ICG Achieves $1 Billion Close for Inaugural LP Secondaries Fund

Global alternative asset manager ICG has successfully concluded fundraising for its inaugural LP-led secondaries fund, ICG LP Secondaries I (LPS I), securing commitments totaling $1 billion. Specializing in the acquisition of buyout fund interests from limited partners, the fund reached its hard cap at $1 billion, marking a significant milestone for ICG.

With considerable oversubscription, total commitments, including co-investment special purpose vehicles and separately managed accounts, have surged to $1.6 billion, indicating robust investor confidence in ICG's strategy and capabilities. This achievement underscores ICG's position as a leader in the private equity landscape, leveraging its expertise to capitalize on secondary market opportunities effectively.

The success of LPS I underscores the growing demand for secondary investment vehicles within the private equity sphere, reflecting investors' appetite for diverse and innovative strategies to deploy capital. As ICG continues to expand its footprint in alternative investments, the closing of its debut LP secondaries fund sets a promising precedent for future endeavors, reinforcing its commitment to delivering value to investors through strategic and disciplined investment approaches.