ICG raises €4.2bn

The specialist asset manager closes latest senior debt fund after just five months on the road.

ICG Senior Debt Partners Fund III has held a final close at €4.2 billion, with €5.2 billion of available ‘dry powder’. The fund took just five months to surpass its original €3 billion target thanks to strong support from new and existing investors, many of which are European and UK pension funds. The vehicle will follow the same strategy as its predecessor, investing in directly originated senior secured loans to the European mid-market.

ICG Senior Debt Partners Fund II held a final close at €3 billion in July 2015.