Business
Statement re Investment in a Loan Portfolio
Statement re Investment in a Loan Portfolio.
About this update from Icg Plc
[{"type":"text","content":"\n \n\n\n\n\n Tuesday 17 August 2010\n\n INTERMEDIATE CAPITAL GROUP ANNOUNCES THE ACQUISITION OF A LOAN PORTFOLIO FROM\n THE ROYAL BANK OF SCOTLAND\n\n\nIntermediate Capital Group PLC (\"ICG\"), the FTSE 250 listed investment firm and\nfund manager specialising in mezzanine finance, growth capital, buyout debt and\nrelated assets, announces it has agreed to acquire a portfolio of European loans\nfrom the Royal Bank of Scotland (\"RBS\").\n\nThe portfolio comprises €1.4 billion (at par value) of primarily European senior\nloans across a diversified range of sectors.\n\nThe transaction is expected to complete by the end of August 2010, and will be\nfinanced by equity and debt. The equity for the investment will be provided by\nICG and its funds (ICG European Fund 2006 and ICG Recovery Fund 2008). Terms of\nthe transaction are not disclosed.\n\nICG will manage the portfolio alongside its other senior loan and high yield\ninvestment vehicles in its Credit Fund Management business which currently\nmanages over €4.7 billion of assets.\n\nChristophe Evain, Chief Executive Officer of ICG, said,\n\n\"This is a great investment opportunity for ICG and its fund investors. ICG has\na strong track record of investing in European senior loans. We believe this\nportfolio acquisition from RBS underlines the strength of our origination\ncapability and the depth and breadth of our credit expertise. This acquisition\ncontributes to our broader strategy of growth as a leading global alternative\nasset manager.\"\n\n\nEnquiries:\n\nAnalyst / Investor enquiries:\nChristophe Evain, CEO, ICG+44 (0) 20 7628 9898\nPhilip Keller, Finance Director, ICG +44 (0) 20 7628 9898\nJean-Christophe Rey, Investor Relations, ICG+44 (0) 20 7448 5876\n\nMedia enquiries:\nMark Lunn, Corporate Communications, ICG +44 (0) 20 7448 5895\nCharlotte Kirkham, Tim Draper, M: Communications  +44 (0) 20 7920 2331\n\n\nAbout ICG\nFounded in 1989, ICG is a leading independent principal investor and credit fund\nmanager specialising in mezzanine finance, minority equity, senior loans and\nrelated assets with approximately €11 billion under management in proprietary\ncapital and third party funds. ICG has a large and experienced investment team\noperating from its head office in London and offices in Paris, Madrid,\nStockholm, Frankfurt, Amsterdam, Hong Kong, Sydney and N...