ICG closes US$1bn fund

London-headquartered mezzanine and leveraged loan investor Intermediate Capital Group (ICG) has closed its second Asia Pacific fund on US$1bn.

Capital Asia Pacific Fund 2008 is supported by existing investors and has attracted several investors from Asia and Europe. The fund will primarily make direct mezzanine investments in the financing of mid-market Asia-Pacific leveraged buyouts. It will also make equity co-investments, purchase senior debt and mezzanine loans in the secondary debt market.