Intermediate Capital Group (ICG) named Sarah Faulkner as its first chief operating officer, marking the second recent major addition to the firm’s London headquarters; Mathew Cestar was named global head of credit in June.
In this newly created global role at ICG, Faulkner will focus on advancing the firm’s operating platform, with responsibilities including scaling business flows and fund activities. She will report to Chief Financial Officer David Bicarregui.
In a statement welcoming Faulkner aboard, Bicarregui said her “depth of experience, scaling businesses with high operational complexity, will be instrumental in facilitating our ambitious next phase of development.”
Faulkner joins from Goldman Sachs, where for the past 16 years serving in various senior roles as a managing director, including Treasurer of Goldman Sachs International. She spent the early part of her 20-year-plus career at Lehman Brothers.
ICG reported $82.1 billion in assets under management as of the end of June 2023. The firm has been busy over the few months with the launch of the Metropolitan Last Mile, a distribution and industrial platform focused on major urban centers in Europe, in addition to allocator activity including a $600 million commitment to its ICG Excelsior SCSp fund from the New York State Common Retirement Fund and a $30 million commitment from the Los Angeles City Employees’ Retirement System to its Strategic Equity Fund V.