London-headquartered Intermediate Capital Group (ICG) has announced that managing director Tom Bartlam will retire in April, following the announcement of ICG’s end of year results.
57-year-old Bartlam co-founded the group in 1989 alongside fellow managing director Tom Attwood and will remain on the board as a non-executive director.
Commenting on the news, ICG chairman John Manser said in a statement: “Tom Bartlam has been at the heart of building ICG from its start-up in 1989 into the large and international business it is today. Tom retires with our best wishes, leaving ICG in robust shape with a strong and experienced management team, which I am confident is capable of maintaining the excellent record of growth.”
Speaking to PrivateEquityOnline, Bartlam declined to point to any one particular highlight during his tenure, but said: 'I'm very proud of our record as a public company. We floated at 225p and we're now at 1125p – that's 5x growth in ten years, well ahead of the market.'
On his plans for the future, Bartlam said that he wouldn't be taking on any full time executive roles but was looking forward to his role as non executive director of ICG and continuing in his role as chairman and NXD of Pantheon International Participations (PIP), the quoted fund of funds group.
The remaining management team comprises managing director Attwood along with executive directors François de Mitry, Christophe Evain, Andrew Philips and Paul Piper.
Headquartered in London, ICG also has offices in Hong Kong, Paris, Madrid and Stockholm. In April last year, the firm closed its latest fund, ICG Mezzanine Fund 2003 on €668 million, the largest mezzanine fund in Europe at the time.