Intermediate Capital Group (ICG) Closes Senior Debt Partners Fund 5 at $17bn, Significantly Exceeding Target

– ICG, a global alternative asset manager, has closed its fifth vintage of the flagship direct lending strategy, Senior Debt Partners (SDP).

– The fund and associated vehicles raised a total of $17bn (approximately €15.2bn), surpassing the initial target of $11-12bn.

– It is the largest ever direct lending fundraise in Europe.

– To date, the fund has invested around 45% of the capital raised.

– Launched in 2012, SDP provides first lien, senior secured loans to mid and upper mid-market European businesses, typically backed by private equity firms.

– The strategy is a market leader in European direct lending, managing capital for over 180 clients.

– Benoît Durteste, CIO and CEO of ICG, highlighted the firm’s leadership in European direct lending and noted the successful scaling of its flagship fund.

– Peter Lockhead and Mathieu Vigier, Co-Heads of SDP, emphasized the attractiveness of the European direct lending market and the strong pipeline of investment opportunities.

– SDP’s clear investment strategy and differentiated origination platform have garnered strong client support.