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Intermediate Capital Group

From Wikipedia, the free encyclopedia
Intermediate Capital Group plc
Company typePublic
LSE: ICG
FTSE 100 component
IndustryFinancial services, asset management
FoundedFebruary 1989; 35 years ago (1989-02)
HeadquartersLondon, England, UK
Key people
  • William Rucker (chair­person) Edit this on Wikidata
  • Benoît Durteste (CEO) Edit this on Wikidata
RevenueIncrease £949.6 million (2024)[1]
Increase £554.8 million (2024)[1]
Increase £474.4 million (2024)[1]
AUM$106 billion (30 September 2024)[2]
Websitewww.icgam.com

Intermediate Capital Group is a private equity investment firm focused on providing capital to help companies grow through private and public markets and provides a number of strategies and funds aimed at institutional investors. It is headquartered in London, England, with offices in a further 16 countries, and is a constituent of the FTSE 100 Index.

History

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The business was founded by six investment professionals in 1989 and was first listed on the London Stock Exchange in 1994. In 2010 it was reported that the credit crunch was driving its growth.[3] Intermediate Capital listed a new bond on the London Stock Exchange's Order book for Retail Bonds (ORB) in 2011.[4]

ICG has diversified its business away from its origins in private debt and equity, buying the real estate business Longbow in 2014, and taking over management of the Graphite Enterprise Trust, which is now known as the ICG Enterprise Trust, in 2015.[5] It hired an infrastructure investment team in 2018 and, in 2019, announced plans to build a private equity business in North America.[6] The then $42.6 billion firm had a “strong ambition” to expand in the continent.[6]

ICG has been a beneficiary of the trend for institutional investors to allocate assets to alternative investments, raising over €10bn during the year ended 31 March 2019.[7]

In November 2022, it was announced ICG had acquired the Madrid-headquartered renewable energy platform, Dos Grados on behalf of its €1.5 billion ($1.56 billion) debut Infrastructure Fund (ICG Infra).[8]

References

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  1. ^ a b c "Annual Results 2024" (PDF). ICG. Retrieved 28 May 2024.
  2. ^ "Interim results statement for the six months ended 30 September 2024". ICG. Retrieved 13 November 2024.
  3. ^ "Credit-crunch boost for Intermediate Capital Group". The Independent. Retrieved 29 March 2015.
  4. ^ "Specialist Investment Firm Intermediate Capital Group PLC Launches First Retail Bond on ORB". London Stock Exchange Group. December 22, 2011. Archived from the original on July 25, 2021. Retrieved May 1, 2018.
  5. ^ "Graphite Capital sells fund investment business to Intermediate Capital Group". Private Equity Wire. December 24, 2015. Retrieved May 1, 2018.
  6. ^ a b "Architect of Morgan Stanley's business moves to Intermediate Capital Group". www.institutionalinvestor.com. 17 September 2019. Retrieved 2019-10-11.
  7. ^ "Intermediate Capital See Record Inflows In "Excellent Year"". Morning Star. 22 May 2019. Retrieved 3 March 2020.
  8. ^ "ICG Infra acquires Spain-based renewable platform Dos Grados". Power Technology. 2022-11-17. Retrieved 2022-11-17.
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