ICG appoints investor relations head(2)

Mezzanine specialist Intermediate Capital has appointed a new head of investor relations, as it looks to enhance its transparency to institutional backers.

Intermediate Capital Group, a UK-based group that specialises in mezzanine investment, has hired Janine Peake into a newly-created role as head of debt investor relations.

Peake, who will become the main contact point for all ICG’s CDO and mezzanine investors, joins the firm from bond insurer Financial Security Assurance, where she was also head of international debt investor relations. Her previous employers include Bankers Trust, NatWest Capital Markets and Charterhouse Bank.

The move comes as the private equity industry comes under increasing pressure to improve its transparency and accountability.

ICG has been operating in the mezzanine market since 1989, and has been investing third party funds since 1994. It has raised three European mezzanine funds, including the €1.5 billion 2003 fund, plus an Asia-Pacific mezzanine fund, six CDO funds and a Credit Opportunities fund.

It is currently targeting a €1.25 billion final close on ICG European Fund 2006, which held a first close at  €650 million in November.