Intermediate Capital Group (ICG) raised $2.1bn (£1.6bn) for its personal debt methods within the first quarter of its monetary 12 months, because the agency’s belongings beneath administration (AUM) topped $100bn.
The asset supervisor reported a “sturdy quarter of fundraising”, with a complete of $4.7bn raised throughout structured and personal fairness, personal debt, actual belongings and credit score over the three months to 30 June 2024.
Learn extra: Goldman Sachs veteran joins ICG Actual Property
AUM totalled $101bn, up from $98.4bn on the finish of March, however fee-earning AUM got here in at simply $70bn.
ICG stated it has $27.9bn of AUM obtainable to deploy in new investments – referred to as ‘dry powder’ – of which $18.2bn was not but incomes charges.
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Nevertheless, the agency famous “elevated transaction exercise” within the quarter, with $3.9bn of deployments – up from $1bn within the first quarter of the earlier 12 months.
ICG is making a giant push into personal credit score, alongside growing its first wealth-focused product and Asian actual property and infrastructure funds.
Learn extra: Ares: Non-public credit score market will double inside 5 years
