Fundraising Fox
Intermediate Capital Group
Private equityLondon · Growth–Late Stage · 16 people tracked
Also known as ICG ALTERNATIVE INVESTMENT LIMITED · ICG EUROPE S.A.R.L. · Icg Investments Inc · ICG MANAGER LIMITED
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Investment thesis
ICG operates as a global alternative asset manager offering flexible and responsible capital solutions across a broad platform that includes structured capital, private equity secondaries, strategic equity, private debt, credit (asset-backed finance, syndicated loans, multi-asset credit), and real assets (infrastructure and real estate). The firm originates differentiated opportunities across sectors and geographies, invests responsibly, and aims to deliver long-term value for clients, institutional investors, and shareholders. With operations spanning Europe, Asia Pacific, North America, and the Middle East, ICG emphasizes local knowledge, specialist experience, and sustainable business growth.
Source: firm website, verified Sep 29, 2026.
Team · 16 people
from the firm's website & public directories
What they invest in
from 5 of 6 portfolio companiesBiotech ×3Advanced Manufacturing ×2Healthtech ×2FoodTech ×1Hardware ×1Medical Devices ×1
HQs:United States×3Netherlands×1
Investments · 6 tracked
founders shown can be your intro pathBy year:2025 · 12023 · 12021 · 13 dated
Eliem Therapeutics is a clinical-stage biotechnology company developing monoclonal antibodies targeting immune-mediated diseases, with budoprutug, an anti-CD19 antibody designed to deplete B cells in conditions including primary membranous nephropathy, immune thrombocytopenia, and systemic lupus erythematosus, and CLYM116, an anti-APRIL antibody for IgA nephropathy and related B-cell mediated diseases.
BiotechWilmington, US
Valerie Morisset(Executive Officer)inErin Lavelle(Executive Officer)inRobert Azelby(Executive Officer, Director)James Bucher(Executive Officer)Leone Patterson(Director)
BoardAdam Rosenberg(Director)
Co-investorsManta Ray VenturesAccess BiotechnologyACORN BIOVENTURESLifeArc VenturesRA Capital
CuraSen Therapeutics is a privately funded biopharmaceutical company developing treatments that selectively activate adrenergic receptors in the brain to restore noradrenergic signaling.
BiotechHealthtechSan Carlos, US
Anthony Ford(Executive Officer, Director)inBenjamin Potter(Executive Officer)Henry Skinner(Director)Liam Ratcliffe(Director)in
BoardRon Hunt(Director)inLoretta Tse, Ph.D.(Director)
Co-investorsAlta PartnersLongitude Capitalabrdn plcJohnson & Johnson Innovation – JJDCNew Leaf Venture PartnersPappas Capital+2 more
Developing therapeutic peptides targeting rare endocrine diseases (past investment).
Co-investorsAndera PartnersATEM Capital FundCTI Life Sciences Fund L.P.EQT Life SciencesKurma PartnersLSP (Life Sciences Partners)+5 more
Kee Safety designs, manufactures, and supplies fall protection and working-at-height safety systems, including guardrails, rigid rail systems, and related equipment, along with consulting and assessment services.
Advanced ManufacturingHardware
Co-investorsInflexion65 Equity Partners Pte. Ltd.Investcorp
Van Geloven is a Dutch snacks manufacturer with multiple brand portfolios including Mora, Van Dobben, and others, serving food service and retail channels.
Advanced ManufacturingFoodTech
Co-investorsTowerBrook
Allotera (formerly Wugen) develops allogeneic T-cell therapies.
BiotechHealthtechMedical DevicesSt. Louis, US
Ayman Kabakibi(Executive Officer)inCherry Thomas(Executive Officer)inKumar Srinivasan(Executive Officer, Director)inKeith Vendola(Executive Officer)Daniel M Kemp(Executive Officer, Director)Matthew Cooper(Executive Officer)
Co-investorsAisling CapitalAlpha Wave GlobalBioGenerator VenturesRiverVest Venture PartnersAbingworthFidelity Investments+1 more
Exits · 1
1 IPOsEliem TherapeuticsNASDAQ: CLYM
Portfolio news
latest coverage across their companiesWugen · finsmes.com · Aug 28, 2025
Fund performance · per public LP disclosures · 28
as of Sep 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| ICG Europe Fund IX SCSpLPs: Connecticut Retirement Plans and Trust Funds, Pennsylvania Public School Employees' Retirement System | 2025 | — | — | 1.35x | — |
| ICG Centre Street Partnership, L.P. - Series NLPs: New York City Board of Education Retirement System | 2024 | — | 8.8% | 1.06x | 0.15x |
| ICG Centre Street Partnership, L.P. - Series SLPs: New York City Board of Education Retirement System | 2024 | — | 6.2% | 1.05x | 0.26x |
| ICG Global Co-InvestmentLPs: Connecticut Retirement Plans and Trust Funds | 2024 | — | — | 1.00x | — |
| ICG Global Loan FundLPs: Connecticut Retirement Plans and Trust Funds | 2024 | — | — | 1.10x | — |
| ICG Global Total Credit FundLPs: Connecticut Retirement Plans and Trust Funds | 2024 | — | — | 1.10x | — |
| ICG Strategic Equity Co-Investment Fund V-ALPs: New York City Employees' Retirement System, New York City Police Pension Fund, New York City Fire Department Pension Fund | 2024 | — | — | 1.66x | 1.66x |
| ICG Strategic Equity Fund V (USD)LPs: Teachers' Retirement System of the City of New York, California State Teachers' Retirement System, New York City Employees' Retirement System +3 more | 2024 | — | — | 1.48x | 0.00x |
| ICG Strategic Equity Fund V (USD) V-ALPs: New York City Fire Department Pension Fund | 2024 | — | — | 1.49x | — |
| ICG Europe Mid-Market Fund II SCSpLPs: Pennsylvania Public School Employees' Retirement System, Connecticut Retirement Plans and Trust Funds | 2023 | — | — | 1.17x | — |
| ICG North American Credit Partners III, L.P.LPs: Connecticut Retirement Plans and Trust Funds | 2023 | — | — | 1.00x | 0.10x |
| ICG Strategic Equity Fund VLPs: Teachers' Retirement System of the City of New York, New York City Police Pension Fund, Los Angeles City Employees' Retirement System +1 more | 2023 | — | — | 1.49x | 0.00x |
| ICG Europe Fund VIII SCSpLPs: New Jersey Division of Investment, Florida State Board of Administration, Connecticut Retirement Plans and Trust Funds | 2022 | — | 8.0% | 1.10x | 0.10x |
| ICG Europe Fund VIII Feeder SCSpLPs: Pennsylvania Public School Employees' Retirement System, Florida State Board of Administration, Robert Wood Johnson Foundation | 2021 | — | 22.9% | 1.41x | 0.15x |
| ICG Exelsior SCSpLPs: Empire State Development – New York Ventures | 2021 | — | — | 1.20x | 0.08x |
| ICG Strategic Equity Co-Investment Fund IVLPs: New York City Police Pension Fund | 2021 | — | 5.4% | 1.18x | — |
| ICG Strategic Equity Fund IVLPs: California State Teachers' Retirement System, Teachers' Retirement System of the City of New York, New York City Police Pension Fund +2 more | 2021 | — | 14.5% | 1.35x | 0.28x |
| ICG Europe Mid-Market FundLPs: Pennsylvania Public School Employees' Retirement System | 2020 | — | 18.7% | 1.50x | 0.72x |
| ICG North American Private Debt Fund IILPs: Pennsylvania Public School Employees' Retirement System | 2019 | — | 10.0% | 1.20x | 0.83x |
| ICG Europe Fund VIILPs: Pennsylvania Public School Employees' Retirement System, Connecticut Retirement Plans and Trust Funds | 2018 | — | 14.3% | 1.60x | 0.73x |
| ICG Europe Fund VII Feeder SCSpLPs: Pennsylvania Public School Employees' Retirement System | 2018 | — | 14.6% | 1.64x | 1.24x |
| ICG Strategic Equity Fund III LPLPs: California State Teachers' Retirement System, Teachers' Retirement System of the City of New York, New York City Board of Education Retirement System | 2018 | — | 24.5% | 2.12x | 1.11x |
| ICG Europe Fund VI, L.P.LPs: Pennsylvania Public School Employees' Retirement System | 2015 | — | 19.5% | 1.82x | 1.75x |
| ICG Europe Fund V, L.P.LPs: Pennsylvania Public School Employees' Retirement System | 2011 | — | 7.9% | 1.29x | 1.24x |
| ICG CENTRE ST PARTNERSHIPLPs: New York City Board of Education Retirement System | — | — | — | 1.14x | — |
| ICG STRATEGIC EQUITY COINV IIILPs: New York City Board of Education Retirement System | — | — | — | 2.34x | — |
| ICG STRATEGIC EQUITY COINV IVLPs: New York City Board of Education Retirement System | — | — | — | 1.11x | — |
| ICG STRATEGIC EQUITY COINV VLPs: New York City Board of Education Retirement System | — | — | — | 1.00x | — |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- How many investments has Intermediate Capital Group made?
- Intermediate Capital Group has 6 tracked investments, 1 of which have exited, including 1 dated in the last 24 months.
- What stage does Intermediate Capital Group invest at?
- Intermediate Capital Group invests at the Growth, Late Stage stages.
- What is Intermediate Capital Group's typical check size?
- Intermediate Capital Group typically writes checks of $5M – $50M.
- What sectors does Intermediate Capital Group focus on?
- Intermediate Capital Group focuses on Biotech, Climate Tech, Energy, PropTech, Sector Agnostic.
- Where is Intermediate Capital Group located?
- Intermediate Capital Group is headquartered in London, GB.
Media · Podcasts & interviews
from their channelThe role of private capital within diversified pension portfolios
ICG plc
ICG CIO & CEO Benoît Durteste: Delivering significant growth
ICG plc
Images
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