Intermediate Capital Group, a mezzanine and leveraged loan investor and third party fund manager, has announced the closing of the Intermediate Capital Asia Pacific Fund 2008 with strong s
Intermediate Capital Group, a mezzanine and leveraged loan investor and third party fund manager, has announced the closing of the Intermediate Capital Asia Pacific Fund 2008 with strong support from existing investors as well as several new investors from Asia and Europe.
At USD1bn, the fund is double the size of its predecessor and is the largest dedicated mezzanine fund in the region, Intermediate Capital says. It will primarily make direct mezzanine investments in the financing of mid-market Asia-Pacific leveraged buyouts, but can also make equity co-investments and purchase senior debt and mezzanine loans in the secondary debt market.
The fund, Intermediate Capital’s second, will seek to assemble a portfolio well diversified by industry sector, geography, private equity sponsor and investment size to deliver superior risk-adjusted investment returns.
‘This is our second Asia Pacific fund, increasing our capacity to offer private equity sponsors optimal financing structures in this dynamic market while providing attractive returns to our fund investors,’ says managing director Tom Attwood (photo).
‘Over the years we have developed strong longstanding relationships with our investor base, as evidenced by the fact that 75 per cent of commitments come from existing LPs, but we are particularly pleased that Fund II has attracted a number of significant new investors. ICG has a successful track record of investing across a number of economic cycles, and the current market conditions may prove to be one of the best investment vintages seen in decades.’
Dr Chris Heine, managing director of Intermediate Capital Asia Pacific, adds: ‘This is a great endorsement of our strategy and confirms that ICG is recognised as one of the leading mezzanine and minority equity investors in the Asia-Pacific region.’
