Intermediate Capital Group

Last updated
Intermediate Capital Group plc
Company type Public
LSE:  ICP
FTSE 100 component
Industry Financial services, asset management
FoundedFebruary 1989;35 years ago (1989-02)
Headquarters London, England, UK
Key people
  • William Rucker(chair­person)  OOjs UI icon edit-ltr-progressive.svg
  • Benoît Durteste(CEO)  OOjs UI icon edit-ltr-progressive.svg
RevenueDecrease2.svg £639.0 million (2023) [1]
Decrease2.svg £315.6 million (2023) [1]
Decrease2.svg £278.4 million (2023) [1]
AUM $86.3 billion (2023) [2]
Website www.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 13 countries, and is a constituent of the FTSE 100 Index.

Contents

History

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]

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References

  1. 1 2 3 "Annual Results 2023" (PDF). Intermediate Capital Group. Retrieved 11 February 2024.
  2. "Q3 Trading statement for the nine months ended 31 December 2023". Intermediate Capital Group. Retrieved 26 February 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. 1 2 "Architect of Morgan Stanley's business moves to Intermediate Capital Group". www.institutionalinvestor.com. 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.