Business
ICG Enterprise Trust executes secondary sale
2 April 2025 ICG Enterprise Trust executes secondary sale ICG Enterprise Trust (“ICGT”) is pleased to announce the sale of eight mature primary fund investments, generating net cash proceeds of £62 million. The sale was executed at a discount of 5.5% to the 30 September 2024 valuation, having received significant buyer interest. It realises a return of 1.6x invested cost (15% IRR) to ICGT, and releases undrawn commitments of £10m. The proceeds have been received and will be deployed into opportu
About this update from Icg Enterprise Trust Plc Gbp
[{"type":"image","alt":"ICG Enterprise Trust Plc","displaySize":"","headline":null,"caption":"ICG Enterprise Trust Plc","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":115,"url":"https://media.zenfs.com/en/globenewswire.com/08b21b81b89d10d246247e503f8f9607"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/jNZAjxF2BZt34ioD_zMBSA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTE2MTtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/08b21b81b89d10d246247e503f8f9607","width":300,"height":115}},"lazy":false},{"type":"text","content":"2 April 2025","length":12,"tagName":"p"},{"type":"text","content":"ICG Enterprise Trust executes secondary sale ","length":44,"tagName":"p"},{"type":"text","content":"ICG Enterprise Trust (“ICGT”) is pleased to announce the sale of eight mature primary fund investments, generating net cash proceeds of £62 million.","length":148,"tagName":"p"},{"type":"text","content":"The sale was executed at a discount of 5.5% to the 30 September 2024 valuation, having received significant buyer interest. It realises a return of 1.6x invested cost (15% IRR) to ICGT, and releases undrawn commitments of £10m.","length":227,"tagName":"p"},{"type":"text","content":"The proceeds have been received and will be deployed into opportunities in line with ICGT’s investment objectives and capital allocation policy.","length":144,"tagName":"p"},{"type":"text","content":"Oliver Gardey and Colm Walsh, Portfolio Managers for ICG Enterprise Trust, commented:“This is the fourth time in the last five years that ICGT has executed a secondary sale of mature fund investments, as part of our active approach to managing our Portfolio and our focus on maximising shareholder returns.","length":307,"tagName":"p"},{"type":"text","content":"These eight primary fund investments, with vintage years ranging from 2014 to 2020, delivered good returns in aggregate for ICGT but we believe have limited future potential relative to other opportunities.","length":206,"tagName":"p"},{"type":"text","content":"This sale allows ICGT to take advantage of a strong pricing environment and enables us to redeploy this capital into opportunities that we believe will generate additional long-term value for our shareholders.”","length":210,"tagName":"p"},{"type":"text","content":"Enquiries","length":9,"tagName":"p"},{"type":"table","headerItems":[],"items":[{"val":...