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ICG Raises EUR5.2bn with largest European debt fund of 2017

Intermediate Capital Group (ICG) has raised EUR5.2 billion for Senior Debt Partners III (SDP3), the largest pooled direct lending fund in Europe so far in 2017.



The SDP3 transaction took from January to September 2017 to structure, document and close. The fund was oversubscribed and catered for a wide-range of investors, including a large number of pension fund and insurers. 


 
Investors were global, located in a large number of jurisdictions such as Israel, Korea, Australia, the US and Europe. Consequently, the structure had to be flexible enough to cater for a wide-range of international regulatory and tax requirements. There were also a number of other innovative aspects. Please see ICG’s announcement here.


 
A team from law firm Paul Hastings led by partner Diala Minott with associates Katherine Rainwood and Paul Oumade-Singh, with assistance from tax partner Arun Birla and associate Jiten Tank, advised ICG on the transaction and the structure. Partners Sophie Laguesse and Karl Pardens at Elvinger Hoss Prussen advised on Luxembourg law aspects.

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