ICG raises $1bn for inaugural LP-led secondaries fund

• Including co-investment special purpose vehicles and separately managed accounts, the total commitments are $1.6 billion
• LP Secondaries provides liquidity solutions to investors in third party private equity funds
• ICG has $86.3 billion of assets as of December 31, 2023

ICG has closed its debut LP-led secondaries fund at a hard cap of $1 billion.

ICG LP Secondaries I specializes in acquiring buyout fund interests from limited partners.

Including co-investment special purpose vehicles and separately managed accounts, the total commitments are $1.6 billion.

LP Secondaries provides liquidity solutions to investors in third party private equity funds.

The team, led by Oliver Gardey, Ryan Levitt and Vivien Blossier, is comprised of specialized LP secondaries investors based in London and New York.

On the fundraising, Benoît Durteste, CIO and CEO of ICG, in a statement, “LP Secondaries was borne out of our belief that there is significant merit to specialization within the secondaries market. The success of this first-time fundraise, for a pure LP secondaries strategy, is testament to the appetite among clients who share in our conviction.”

Founded in 1988, ICG is based in London. ICG has $86.3 billion of assets as of December 31, 2023.