Intermediate Capital Group (ICG) has raised €1.5bn for its debut Infrastructure fund.
The manager said the amount raised for ICG Infrastructure Equity 1 (ICG Infra) exceeded the fund’s target of €1bn as the fund attracted commitments from over 40 clients across Europe, the UK, Australia, the US and Canada.
ICG said ICG Infra, which pursues a green generalist strategy aligned to UN Sustainable Development Goals and focuses on Western Europe, has deployed €1bn across five deals.
ICG Infra targets sustainable infrastructure, such as renewables, energy efficiency, fibre optic networks, electric mobility, and social infrastructure, the manager said.
Benoît Durteste, CIO and CEO of ICG, said: “It is a significant achievement for a first-time fund to receive such strong client demand and significantly exceed its target in a challenging macro-economic environment.
”The calibre and industry knowledge of the team, combined with ICG’s structuring expertise, is a clear differentiator, and we are delighted to bring such a compelling strategy to market.”
Guillaume d’Engremont, managing director and head of European infrastructure at ICG, said: “We are incredibly proud to reach this milestone and are grateful for the confidence our clients have placed in us.
“We have a strong pipeline of opportunities ahead of us, and as we continue to focus on sustainable infrastructure, we are confident that we can continue to provide attractive long-term returns.”
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