ICG raises more than double previous vintage

London-headquartered Intermediate Capital Group (ICG) closed its ICG Strategic Equity Fund III at $2.4 billion, which exceeded its $1.6 billion target and more than doubled the size of its previous Fund II that closed in 2017 at $1.1. billion.

The fundraise includes a $200 million commitment from ICG.

Launched in 2014, ICG Strategic Equity is a private equity strategy focused on the accelerating market for GP-led secondary transactions. The firm’s primary focus is on complex fund restructurings where it applies an asset-intensive underwriting approach and active portfolio management . . .

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