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Intermediate Capital Group

Private equity

London · 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 is a global alternative asset manager investing client capital across structured capital, private equity secondaries, real assets, private debt, and credit. It partners with management teams, founders, and business owners using a creative, solutions-focused approach, offering flexible capital alongside its expertise. Operating from more than 20 locations worldwide, the firm emphasizes originating differentiated opportunities, responsible investing, and delivering long-term value.

Invests inBiotechSector AgnosticAsia-PacificAustraliaEuropeGlobalHong KongJapanLondonMiddle East & North AfricaNew ZealandNorth AmericaSingaporeSouth Korea

Source: firm website, verified Aug 11, 2026.

Stage
Growth–Late Stage
Check
$5M – $50M
HQ
London, NY, GB
Instruments
Equity · Debt
Founded
1989
AUM
$49.7B

Team · 16 people

from the firm's website & public directories
Alan Isenberg· Global Head of the Client Solutions Groupin

Leads ICG's Client Solutions Group, based in New York.

Maisie Le Masurier· Corporate Communications

Corporate Communications contact within ICG's media relations team.

Wooseok Jun· Head of Asia-Pacific Corporatein

Fund performance · per public LP disclosures · 28

as of Sep 2025
FundVintageCommittedNet IRRTVPIDPI
ICG Europe Fund IX SCSpLPs: Connecticut Retirement Plans and Trust Funds, Pennsylvania Public School Employees' Retirement System20251.35x
ICG Centre Street Partnership, L.P. - Series NLPs: New York City Board of Education Retirement System20248.8%1.06x0.15x
ICG Centre Street Partnership, L.P. - Series SLPs: New York City Board of Education Retirement System20246.2%1.05x0.26x
ICG Global Co-InvestmentLPs: Connecticut Retirement Plans and Trust Funds20241.00x
ICG Global Loan FundLPs: Connecticut Retirement Plans and Trust Funds20241.10x
ICG Global Total Credit FundLPs: Connecticut Retirement Plans and Trust Funds20241.10x
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 Fund20241.66x1.66x
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 more20241.48x0.00x
ICG Strategic Equity Fund V (USD) V-ALPs: New York City Fire Department Pension Fund20241.49x
ICG Europe Mid-Market Fund II SCSpLPs: Pennsylvania Public School Employees' Retirement System, Connecticut Retirement Plans and Trust Funds20231.17x
ICG North American Credit Partners III, L.P.LPs: Connecticut Retirement Plans and Trust Funds20231.00x0.10x
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 more20231.49x0.00x
ICG Europe Fund VIII SCSpLPs: New Jersey Division of Investment, Florida State Board of Administration, Connecticut Retirement Plans and Trust Funds20228.0%1.10x0.10x
ICG Europe Fund VIII Feeder SCSpLPs: Pennsylvania Public School Employees' Retirement System, Florida State Board of Administration, Robert Wood Johnson Foundation202122.9%1.41x0.15x
ICG Exelsior SCSpLPs: Empire State Development – New York Ventures20211.20x0.08x
ICG Strategic Equity Co-Investment Fund IVLPs: New York City Police Pension Fund20215.4%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 more202114.5%1.35x0.28x
ICG Europe Mid-Market FundLPs: Pennsylvania Public School Employees' Retirement System202018.7%1.50x0.72x
ICG North American Private Debt Fund IILPs: Pennsylvania Public School Employees' Retirement System201910.0%1.20x0.83x
ICG Europe Fund VIILPs: Pennsylvania Public School Employees' Retirement System, Connecticut Retirement Plans and Trust Funds201814.3%1.60x0.73x
ICG Europe Fund VII Feeder SCSpLPs: Pennsylvania Public School Employees' Retirement System201814.6%1.64x1.24x
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 System201824.5%2.12x1.11x
ICG Europe Fund VI, L.P.LPs: Pennsylvania Public School Employees' Retirement System201519.5%1.82x1.75x
ICG Europe Fund V, L.P.LPs: Pennsylvania Public School Employees' Retirement System20117.9%1.29x1.24x
ICG CENTRE ST PARTNERSHIPLPs: New York City Board of Education Retirement System1.14x
ICG STRATEGIC EQUITY COINV IIILPs: New York City Board of Education Retirement System2.34x
ICG STRATEGIC EQUITY COINV IVLPs: New York City Board of Education Retirement System1.11x
ICG STRATEGIC EQUITY COINV VLPs: New York City Board of Education Retirement System1.00x

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

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, Sector Agnostic.
Where is Intermediate Capital Group located?
Intermediate Capital Group is headquartered in London, GB.

Media · Podcasts & interviews

from their channel

The role of private capital within diversified pension portfolios

ICG plc

ICG CIO & CEO Benoît Durteste: Delivering significant growth

ICG plc

Images

Intermediate Capital Group photoIntermediate Capital Group photoIntermediate Capital Group photoIntermediate Capital Group photoIntermediate Capital Group photoIntermediate Capital Group photo

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