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CLOSE OF ITS SECOND ASIA PACI
CLOSE OF ITS SECOND ASIA PACI.
About this update from Icg Plc
[{"type":"text","content":"\n RNS Number : 0699G Intermediate Capital Group PLC 17 October 2008 \n \n17 October 2008\nEMBARGOED FOR 7.00AM\n\n\nICG ANNOUNCES CLOSE OF ITS SECOND ASIA PACIFIC FUND AT US$1.0 BILLION\nIntermediate Capital Group PLC ('ICG'), a leading mezzanine and leveraged loan investor and third party fund manager, announces the closing of its US$1.0 billion Intermediate Capital Asia Pacific Fund 2008 ('Fund II'). \nFund II is strongly supported by existing investors, and has attracted several new investors from Asia and Europe. At US$1.0 billion, Fund II is double the size of the first fund, and is the largest dedicated mezzanine fund in the region. \nFund II will primarily make direct mezzanine investments in the financing of mid market Asia Pacific leveraged buyouts. In addition, Fund II is able to make equity co-investments and to purchase senior debt and mezzanine loans in the secondary debt market. Fund II will target a well-diversified portfolio by industry sector, geography, private equity sponsor and investment size to deliver superior investment returns on a risk-adjusted basis.\nCommenting on the new fund, Tom Attwood, Managing Director of ICG, said:\n'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. Over the years we have developed strong, long-standing relationships with our existing investor base, as evidenced by the fact that 75% of Fund II commitments come from existing LPs. We are particularly pleased that Fund II has attracted a number of significant new investors thereby supporting ICG's growth. 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.'\nDr Chris Heine, Managing Director of Intermediate Capital Asia Pacific Limited, remarked:\n'We are delighted that our existing investors have continued to support us, and that we have attracted a number of new investors in Fund II. This is a great endorsement of ICG's strategy and confirms that ICG is recognised as one of the leading mezzanine and minority equity investors in the Asia Pacific region.'\nEnquiries:\n\nIntermediate Capital Group PLC\n\nJani...