ICG collects $1bn

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PEI exclusively revealed that Intermediate Capital Group has held the final close on ICG Strategic Secondaries II, raising about $1 billion, according to two sources familiar with the matter.

The fund launched with a target of $1 billion and held a first close on more than a third of the target in last June.

Two SEC filings indicated that the fund has raised $1.1 billion as at January 2017, The figure included an amount of $400 million raised from an offshore vehicle.