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ICG holds $1bn final close of debut LP Secondaries fund

Global alternative asset manager ICG, has completed the fundraising for its debut LP-led secondaries fund, ICG LP Secondaries I (LPS I), which specialises in acquiring buyout fund interests from limited partners, at its hard cap of $1bn.

Including co-investment special purpose vehicles and separately managed accounts, total commitments to the fund, which was significantly oversubscribed, are $1.6bn.

LP Secondaries invests on a global basis, providing liquidity solutions to investors in third party private equity funds. The team, led by Oliver Gardey, Ryan Levitt and Vivien Blossier, is comprised of specialised LP secondaries investors based in London and New York.

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