ICG eyes infrastructure, real estate

London-based listed fund manager, Intermediate Capital Group, is likely to expand its operations to asset classes such as infrastructure and real estate.

Mezzanine debt provider Intermediate Capital Group (ICG) is considering expanding its operations to other asset classes such as infrastructure and real estate, the company indicated in its first-half results to September 2010. 

A source from the company contacted by PEO sister web site Infrastructure Investor confirmed the intention but said no decision had yet been taken officially. 

“We believe that our skills can be successfully applied to adjacent asset classes. From our origins in mezzanine finance, we have successfully expanded into leveraged loans, high yield bonds, minority equity investments and more recently recovery assets,” said Christophe Evain, chief executive officer of ICG, in the statement. 

In its half-yearly results, the company reported an increase in its asset under management (AUM) of €481 million from the second half of last year. Currently the company has AUM of €11.7 billion. The company reported a profit before tax of £105.1 million as compared to £97.7 million in the period ending March 2010.

ICG is a London-based listed fund manager that has deployed capital on behalf of more than 170 investors through mezzanine, credit and minority equity funds specialising in mid-market transactions. The company has an investment team operating from its head office in London and offices in Paris, Madrid, Stockholm, Frankfurt, Amsterdam, Hong Kong, Sydney and New York.