ICG

ICG overview

Intermediate Capital Group (ICG) is a global alternative asset manager with a focus on private markets. It invests across structured capital, private equity secondaries, private debt, credit, and real assets.

ICG’s strategy emphasises flexible, solutions-driven investment. In structured capital, it provides tailored financing to corporates and mid-market companies across regions, including Europe, Asia Pacific, and North America. In private equity secondaries, it acquires interests from existing investors, including limited partner positions and strategic equity stakes. Private debt and credit investments cover senior, mezzanine, and multi-asset credit, targeting risk-adjusted returns. Real assets include European and Asia-Pacific infrastructure and real estate investments.

The firm integrates responsible investment and ESG principles into its investment process. It partners with management teams, founders, and business owners, providing operational support and capital structuring. ICG’s ethos emphasises disciplined, long-term value creation while balancing financial performance with sustainability and risk management across all private markets activities.

As of September 2026, ICG and Amundi completed an equity partnership, acquiring a 9.9% economic stake in ICG.

This institution is a global alternative asset manager with a multi-decade track record across private markets. The firm invests on behalf of institutional partners through a family of strategies spanning several asset classes and regions. Its teams operate from offices around the world, working with investors and portfolio companies over long holding periods. Subscribe for the full profile, background and analysis.

Stories about ICG

VRS commits to ICG Europe IX

Virginia Retirement System reports a new commitment to the ICG Europe Fund Series.

ICG: The ABF market is just getting started

Asset-backed finance is only at the beginning of its growth journey as opportunities for stable returns continue to proliferate in the space, says Sridhar Bearelly, head of alternative credit at ICG.

Download PDI's 2025 speciality finance report

Inside: How asset-backed finance is going mainstream; The asset class insulated from trade wars and geopolitics; Expert analysis from ICG, Partners Group and InterVest capital partners; Plus, much more…

NYSCRF backs private debt funds

The Albany-based pension fund backed Intermediate Capital Group and Pophouse Entertainment.

ICG smashes target with €3bn mid-market fundraise

The fund manager decided to increase the hard-cap due to high levels of demand.

Loan Note: Momentum in the secondaries market; Spanish lender gets EIF backing

Strong activity – and strategic considerations – in the secondaries market. Plus: European Investment Fund backs Spanish SME lender; and ICG brings in MD in Paris.

ICG closes North America credit fund on $1.9bn

The fund is a direct follow up to its 2018 vehicle and will continue to back mid-market American companies.

ICG closes huge $17bn senior debt fund

The fund is thought to be one of the largest ever raised for private debt investment in Europe.

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Sample story headline about ICG

Subscribe to read the latest news, insights and analysis from our editorial team covering this institution and its activity across private markets.

Sample story headline about ICG

Subscribe to read the latest news, insights and analysis from our editorial team covering this institution and its activity across private markets.

ICG contact information

Offices

Procession House, 55 Ludgate Hill, London, EC4M 7JW, United Kingdom

Showing 1 of 20 ICG offices

Contacts

Name	Job title	Location	Email
Key Contact Mr. Alec Carrel	Job titleVice President, LP Secondaries, Client Solutions	LocationNew York, United States	Email------
Key Contact Mr. Louis Dawant	Job titleVice President, Client Solutions Group, France and Switzerland	LocationLondon, United Kingdom	Email---------
Key Contact Mr. Benoit Durteste	Job titleChief Investment Officer and Chief Executive Officer	LocationLondon, United Kingdom	Email-----
Key Contact Mr. Alan Isenberg	Job titleSenior Managing Director, Global Head of Client Solutions Group	LocationNew York, United States	Email-------
Showing 4 of 52 ICG contacts

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ICG funds managed

Funds in market: 5

Fund	Fund size	Open date	Strategy
ICG European Infrastructure Debt Fund	Fund size-----	Open dateSep 2026	Strategy-----
ICG Europe Mid-Market Fund III	Fund size-------	Open dateAug 2026	Strategy------
ICG Senior Debt Partners Fund VI	Fund size------	Open dateJun 2026	Strategy-------
Showing 3 of 5 ICG funds in market

Closed funds: 47

Fund	Fund size	Close date	Strategy
ICG Europe Fund IX	Fund size--------	Close dateSep 2026	Strategy-----------
ICG Europe Mid-Market Fund II	Fund size--------	Close dateMar 2025	Strategy-----
ICG North American Credit Partners Fund III	Fund size-------	Close dateAug 2024	Strategy--------
Showing 3 of 47 ICG closed funds

Get access to all ICG funds managed >

Stories that mention ICG

Loan Note: Santander makes key infra debt hires; smaller funds hit fundraising wall

In today's edition, Santander grows its infrastructure debt operation to help manage two new funds. Plus: smaller managers are finding fundraising a struggle; and we invite our readers to participate in our emerging manager survey. Here's today's brief for our valued subscribers only.

ICG overview