Icg Plc · LSE:ICG
Icg — Intermediate Capital Group — Investor Day (January 2020)
98 slides from Icg's investor day presentation, Jan 30, 2020
Slide 1: Capital Markets Day 30 January 2020
INTERMEDIATE CAPITAL GROUP PLC 30 JANUARY 20 20 MARKETS CAPITAL DAY All materials printed on recyclable paper
Slide 2: Welcome and introduction
2 Welcome and introduction Ian Stanlake Head of Investor Relations Capital Markets Day January 2020
Slide 3: Agenda
3 Agenda Positioned for growth Existing strategies and fees ESG New strategies and talent Case studies Closing remarks Capital Markets Day January 2020
Slide 4: Positioned for growth
4 Positioned for growth Benoît Durteste CEO Capital Markets Day January 2020
Slide 5: Leading global alternative asset manager
5 Leading global alternative asset manager Founded in 1989 with a presence across Europe, US and Asia Corporate Investments Resilient fund management business model supported by strong balance sheet European Corporate European Senior Debt High quality client base of over 400 institutional clients €2
Slide 6: Recent acceleration of growth – more to follow?
6 Recent acceleration of growth – more to follow? Assets under management FMC profit €bn £m 45 160 40 140 35 120 30 100 25 80 20 60 15 10 40 5 20 - - FY10 FY12 FY14 FY16 FY18 Q3 20 FY15 FY16 FY17 FY18 FY19 AUM by strategy : 2010 AUM by strategy : 2020 Subordinated debt Subordinated debt Senior debt
Slide 7: Market environment
7 Market environment Capital Markets Day January 2020
Slide 8: No slowdown in growth prospects for the alternatives industry
8 No slowdown in growth prospects for the alternatives industry Growth of alternative assets AUM Relative size of Global Financial Markets $tn Total size of Global Financial Markets 16 Size of private markets $14tn 14 12 10 $10tn 8 $7tn $80tn+ 6 4 $3tn 2 $5.5tn - 2008 2013 2018 2023 Projection Sourc
Slide 9: Increased allocations and new entrants driving demand
9 Increased allocations and new entrants driving demand Investors intending to increase allocations New entrants to the alternatives market 50% 48% 46% High Net Japan Worth 36% investors Insurance / Latin Mutual America funds Infrastructure Private Debt Private Equity Real Estate Source: Preqin Inve
Slide 10: Private market growth outstripping public markets
10 Private market growth outstripping public markets Growth in number of companies: Private vs Public 60% 52% 50% Growth in number of private companies 40% 30% 20% 8% 10% Growth in number of public companies 0% 2012 2017 Source: Hamilton Lane, 2019 Market Overview Capital Markets Day January 2020
Slide 11: Large diversified managers are benefitting the most
11 Large diversified managers are benefitting the most Peer group AUM inflexion point CCY'bn €bn 45 350 40 35 300 30 25 20 250 15 10 200 5 - FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 Q3 20 150 100 50 - Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11
Slide 12: ICG climbs the ranks of leading alternative asset managers
12 ICG climbs the ranks of leading alternative asset managers Total Funds Raised Total Funds Raised Rank Firm in Last 5 years Headquarters Rank Firm in Last 5 years Headquarters ($bn) ($bn) 1 Ares Management 48.2 US 16 PGIM 15.1 US 2 Blackstone 45.2 US 17 Alcentra 14.5 UK 3 Goldman Sachs & Co 44.5 U
Slide 13: How resilient are the industry and ICG through the economic cycle?
13 How resilient are the industry and ICG through the economic cycle? Resilient business model Market studies show that even in worst periods, private markets have generated positive returns. Same cannot be said for public markets ICG’s portfolio of long term strategies is structured and managed to
Slide 14: Performance through cycles is a key attraction for clients
14 Performance through cycles is a key attraction for clients European Corporate 30 year track record Realised Gross MM 2.5 2.0 1.5 1.0 0.5 1.5x 1.8x 1.9x 1.8x 2.0x 1.9x 2.0x 2.3x - Europe Fund I Europe Fund II Europe Fund III Europe Fund IV: Europe Fund IV: Europe Fund IV: Europe Fund V Europe Fund
Slide 15: Sustainable growth
15 Sustainable growth Capital Markets Day January 2020
Slide 16: Three drivers of growth have compounding effect
16 Three drivers of growth have compounding effect Grow Develop Add established emerging value enhancing strategies strategies strategies E.g. E.g. E.g. European Corporate NA Private Debt Sale and Leaseback Senior Debt Partners Strategic Equity Infrastructure Equity European Loans Global Loans Capit
Slide 17: Established strategies continue to grow vintage on vintage
17 Established strategies continue to grow vintage on vintage Senior Debt Partners European Corporate €bn €bn 6 4 €4.0bn €5.8bn Fund VII Fund III 5 3 4 €2.5bn Fund VI 3 €3.2bn 2 Fund II €2.0bn Fund V 2 €1.7bn 1 Fund I 1 - - Senior Debt Partners European Corporate Note: Fund sizes exclude ICG co-inve
Slide 18: Significant growth impact from emerging strategies
18 Significant growth impact from emerging strategies Total fees generated by last three fund vintages based on normal investment and realisation profiles £m 180 Vintage Third party 2015 AUM ($m) (first fund 1998) 160 SS I 153 2019 SS II 866 SE III 2,210 140 20 120 100 69 80 157 2016 60 13 40 39 60
Slide 19: Significant opportunities to grow
19 Significant opportunities to grow Europe USA Asia Global Corporate Senior debt Investments Subordinated debt Equity Capital CLOs Market New Investments geographies Credit funds Real Asset Real Estate (UK only) Investments Sale and Leaseback New asset Infrastructure Equity classes Secondary Privat
Slide 20: Execution is key
20 Execution is key Talent sourcing ‘Fit for the future’ Strong balance and retention operating platform sheet ESG First time considerations funds Capital Markets Day January 2020
Slide 21: Significant opportunity for further, sustainable growth
21 Significant opportunity for further, sustainable growth 20xx 2020 2010 €11bn €43bn €100bn+ Total AUM Capital Markets Day January 2020
Slide 22: Agenda
22 Agenda Positioned for growth Existing strategies and fees ESG New strategies and talent Case studies Closing remarks Capital Markets Day January 2020
Slide 23: European Corporate
23 European Corporate Jens Tonn Head of DACH Capital Markets Day January 2020
Slide 24: Differentiated strategy with a 30 year track record
24 Differentiated strategy with a 30 year track record Substantial deployment Provides flexible capital solutions to European mid-market companies with a focus on downside protection Targets a return of 1.6x money multiple by investing in European corporates with an enterprise value typically 383 In
Slide 25: Market opportunities remain for high quality investments
25 Market opportunities remain for high quality investments Eurozone GDP Industry PMI 6 12 5 9 4 6 3 3 Real YoY% 2 0 YoY % 1 -3 0 -6 -1 -9 -2 -12 -3 -15 12 13 14 15 16 17 18 19 12 13 14 15 16 17 18 19 Eurozone Manufacturing Production Eurozone GDP Motor Vehicles GDP Manufacturing (17% of GDP) Genera
Slide 26: Flexible fund mandate means limited European competition
26 Flexible fund mandate means limited European competition Debt funds Equity funds Capital Markets Day January 2020
Slide 27: Larger fund size creates new investment opportunities
27 Larger fund size creates new investment opportunities Flexibility of investment approach Competition for assets lower Depth of origination capability Leverage existing relationships as corporates grow Europe Fund VII 2018 Investment size Europe Fund VI Europe Fund V 2015 2011 (17) (22) European M
Slide 28: Focus on senior talent to enhance origination capability
28 Focus on senior talent to enhance origination capability Team size Team size 0 1 2 3 4 5 6 7 8 9 10 11 UK France Germany Nordics 20 years average Italy senior* experience Spain Mid-market team Existing team New hires calendar year 2019 *Managing Director level and above Capital Markets Day Januar
Slide 29: Remaining disciplined in investment selection is critical
29 Remaining disciplined in investment selection is critical Longstanding presence in Over 300 transactions reviewed local European markets sourcing proprietary deal flow 27 Sustained relationships with owner Formally reviewed by managers, PE sponsors and intermediaries Investment Committee 17 Flexi
Slide 30: Fund VII deal sourcing across our local origination network
30 Fund VII deal sourcing across our local origination network UK & Ireland 8 Investments 6% 19% Germany 6 Countries 25% France 18% 21% Italy 7 Sectors 11% Spain Note: Investments made since start of Europe Fund VII investment period Capital Markets Day January 2020
Slide 31: Active management of funds delivers consistent performance
31 Active management of funds delivers consistent performance ICG Europe mean net returns Frequency 0.0x 0.5x 1.0x 1.5x 2.0x 2.5x 3.0x 3.5x 4.0x Net MM ICG normal distribution Normal Distribution Curves (European buyouts) European buyout net MM distribution Source: ICG data (as at 31 December 2018),
Slide 32: Scalability driving growth and fee generation
32 Scalability driving growth and fee generation Differentiated platform providing flexible solutions to investee companies Consistent, through the cycle fund performance over 30 years Significant market opportunity with increase in number and profitability of private companies Deep origination capa
Slide 33: Fee growth
33 Fee growth Vijay Bharadia CFOO Capital Markets Day January 2020
Slide 34: Growth drives fee income higher
34 Growth drives fee income higher Higher Stable or management Larger fund New increasing fee and potential sizes strategies rates performance fees Capital Markets Day January 2020
Slide 35: Larger funds and higher fee rates accelerate fee revenues
35 Larger funds and higher fee rates accelerate fee revenues 1.6% Europe VII 143bps Europe VI 1.4% 134bps 134bps SE III 1.2% SE II 113bps 1.0% SDP III 85bps 0.8% SDP II 69bps Size of bubble indicates third party fund size 0.6% 2014 2015 2016 2017 2018 2019 Note: Chart includes only the Group’s large
Slide 36: Existing platforms generating substantial revenue growth
36 Existing platforms generating substantial revenue growth Total fees generated by last three fund vintages based on normal investment and realisation profiles £m £m 140 400 350 120 £124m Fund III £339m 300 Fund VII 100 250 80 200 60 £198m Fund VI 150 £55m £157m 40 Fund II Fund V 100 £32m 20 Fund I
Slide 37: Growth in number of strategies charging fees on committed capital
37 Growth in number of strategies charging fees on committed capital Sale and Infrastructure Leaseback Equity European Mid-Market ICG Enterprise Trust Strategic Equity Asia Pacific Corporate European Corporate 1998 2020 Capital Markets Day January 2020
Slide 38: Performance fee guidance updated
38 Performance fee guidance updated Performance fees as % of total third party fees – recent history £m 300 20% 250 15% 200 Guidance range 150 10% 100 5% 50 - 0% FY18 FY19 H1 20 - annualised Performance fees Total third party fees Performance fees as a % of total third party fees Performance fees to
Slide 39: Growth driving management and performance fees higher
39 Growth driving management and performance fees higher Growth of fund strategies will accelerate growth of high quality earnings Our model provides long term visibility of revenues Performance fees are expected to grow with management fee growth and with market fundamentals remaining attractive Si
Slide 40: Agenda
40 Agenda Positioned for growth Existing strategies and fees ESG New strategies and talent Case studies Closing remarks Capital Markets Day January 2020
Slide 41: ESG and sustainable growth
41 ESG and sustainable growth Eimear Palmer Responsible Investing Officer Capital Markets Day January 2020
Slide 42: ESG and sustainable growth at ICG
42 ESG and sustainable growth at ICG Our approach to ESG spans the company, our funds and portfolio investments* *Portfolio investments where ICG has significant influence Capital Markets Day January 2020
Slide 43: ESG fully embedded across our business
43 ESG fully embedded across our business RI Committee PRI Academy established ESG training 6th CDP Filing ‘A-’ Score Score: AAB RI policy ESG Integration 1st Annual ESG Integration 5th CDP Filing ESG Integration established 48% AUM ESG survey 89% AUM ‘B’ Score 100% AUM 2013 2014 2015 2016 2018 2019
Slide 44: Recent achievements from enhanced ESG focus
44 Recent achievements from enhanced ESG focus Enhanced Responsible Climate change Investing process initiatives Firm-wide Exclusion List TCFD review and gap analysis Embedded ESG Screening Checklist Collaborating with portfolio companies to set targets Rolled out ESG screening tool (‘Reprisk’) Comm
Slide 45: Significant progress across European funds' ESG metrics
45 Significant progress across European funds’ ESG metrics 91% of companies surveyed 78% of companies surveyed have 91% of companies surveyed have a designated individual established environmental or have an anti-bribery and responsible for ESG matters social targets corruption policy 70% of our por
Slide 46: Driving ESG improvements across portfolio companies
46 Driving ESG improvements across portfolio companies Over the past year, we have made considerable progress engaging, monitoring and driving good ESG practices across our European Fund portfolio companies Conducted 19 ESG reviews Increased Conducted 19 ESG Established >150 reviews ESG KPIs transpa
Slide 47: Case study: Euro Cater
47 Case study: Euro Cater Sustainability at the heart of the business, focussing on: Promoting sustainable purchasing Customers: via webshop Purchasers: training and supplier assessments Reducing food waste Webshop promotes products nearing sell-by-date 284t of food prevented from becoming wastage “
Slide 48: UN sustainability goals embedded into new strategies
48 UN sustainability goals embedded into new strategies Sustainability at the core of our most recent strategies − Sale and Leaseback and Infrastructure Equity UN 17 Sustainable Development Goals (SDGs) − A blueprint for sustainable development to end poverty, the protection of the planet and prospe
Slide 49: Continuing to enhance our ESG credentials
49 Continuing to enhance our ESG credentials Explore a climate risk assessment Climate change initiatives Conduct a carbon footprint analysis for European Fund VII and Infrastructure Equity New strategies Implement existing ESG framework for new strategies framework Continue to explore new strategie
Slide 50: Q&A
50 Q&A Capital Markets Day January 2020
Slide 51: Coffee break
51 Coffee break Capital Markets Day January 2020
Slide 52: Agenda
52 Agenda Positioned for growth Existing strategies and fees ESG New strategies and talent Case studies Closing remarks Capital Markets Day January 2020
Slide 53: New strategies
53 New strategies Vijay Bharadia CFOO Capital Markets Day January 2020
Slide 54: New strategies need to complement our existing offering
54 New strategies need to complement our existing offering Grow Develop Add established emerging value enhancing strategies strategies strategies E.g. E.g. E.g. European Corporate NA Private Debt Sale and Leaseback Senior Debt Partners Strategic Equity Infrastructure Equity European Loans Global Loa
Slide 55: Unrivalled record of successfully adding new strategies
55 Unrivalled record of successfully adding new strategies 2010 2014 2015 2016 2017 2018 2019 Future 4 Existing 3 New 6 2 1 4 1 + New New New New New New strategies strategies strategies strategies strategy strategies strategy strategies European North America ICG Enterprise Australian European Nort
Slide 56: New strategies take considerable time and effort to embed
56 New strategies take considerable time and effort to embed Phase 1 Phase 3 New strategy idea Invest selectively Assess client demand utilising balance sheet capital Assess investment market opportunity Proof of concept Phase 1 Phase 2 Phase 3 Phase 4 Phase 2 Phase 4 Consider options for Begin fund
Slide 57: Acquiring new teams can take a variety of forms
57 Acquiring new teams can take a variety of forms €2.3bn Strategic Team hire Equity AUM Team build North America Private Debt €1.4bn AUM Acquisition UK Real Estate €4.6bn AUM Note: Strategy AUM presented as at 31 December 2019 Capital Markets Day January 2020
Slide 58: Scalable operating platform underpins sustainable growth
58 Scalable operating platform underpins sustainable growth Minimise organisational fragmentation Organisation Retain and attract high quality talent Operating model components Smart approach to sourcing Sourcing Optimise capacity and productivity Standardisation of processes Process Elimination of
Slide 59: Balance sheet provides competitive advantage
59 Balance sheet provides competitive advantage New Investment strategy Investment strategy maturity Supports Accelerates Develops Time Enabler and accelerator of growth Capital Markets Day January 2020
Slide 60: £1.4bn committed to new successful strategies in last seven years
60 £1.4bn committed to new successful strategies in last seven years Balance sheet commitment to new strategies by year £m £401m £353m £m 450 across 4 across 3 1,400 strategies strategies 400 1,200 £297m 350 across 5 strategies 1,000 300 £211m 250 across 3 800 strategies 200 600 150 £79m £86m across
Slide 61: Capital efficiency improving with growth of third party AUM
61 Capital efficiency improving with growth of third party AUM 20xx 2020 2010 €11bn €43bn €3.0bn €100bn+ 27% €2.7bn 6% Total AUM 3% ICG balance sheet capital Capital Markets Day January 2020
Slide 62: Significant growth potential
62 Significant growth potential Unrivalled record of successfully adding new strategies Enhanced brand awareness is increasing our ability to attract talent Ensuring our operating platforms are ‘fit for the future’ Balance sheet provides competitive advantage and expected to reduce as a proportion o
Slide 63: Talent sourcing and retention
63 Talent sourcing and retention Antje Hensel-Roth Head of HR Capital Markets Day January 2020
Slide 64: Search for high performers to deliver sustainable growth
64 Search for high performers to deliver sustainable growth Entrepreneurialism Performance for Taking responsibility & innovation our clients & managing risk Working collaboratively Ambition & acting with & focus integrity Capital Markets Day January 2020
Slide 65: Attracting new talent in a competitive market
65 Attracting new talent in a competitive market Holistic approach Proactive “Always on” outreach Capital Markets Day January 2020
Slide 66: Significant growth and expansion in the Group's geographical footprint
66 Significant growth and an expansion in the Group’s geographical footprint 2010 2020 Amsterdam Amsterdam Madrid Madrid Singapore Stockholm Stockholm Tokyo Hong Kong 124 395 Luxembourg Sydney Hong Kong Sydney Frankfurt employees employees Frankfurt Paris Warsaw Paris New York New York London London
Slide 67: Brand and track record attracts industry leading talent
67 Brand and track record attracts industry leading talent Infrastructure Seven-strong Paris Team hire Equity based team Alan Jones, ex-Chairman North America Team build Private Equity of Private Credit & Equity at Morgan Stanley Zeina Bain, Carlyle Team European Jamie Rivers, BC Partners augmentati
Slide 68: Retaining existing talent underpins growth
68 Retaining existing talent underpins growth Outstanding career Engagement Economic opportunities diversity & inclusion alignment Market leading, Very high employee Co-investment entrepreneurial engagement rates requirements environment Market leading diversity Long term incentives Horizontal and v
Slide 69: Significant focus and success on diversity and inclusion
69 Significant focus and success on diversity and inclusion 50 : 50 gender Firm-wide Extensive Individual split for hires in unconscious D&I committee wellbeing coaching FY19 bias training launched programme Benefits Maximising D&I KPIs package diversity on Women’s anchored in enhancement interview
Slide 70: Our people are key to the sustainable growth of our business
70 Our people are key to the sustainable growth of our business Our people have the relationships, expertise and experience to deliver on the Group’s strategic objectives We have structures in place to retain our existing talent • Outstanding career opportunities • Engagement, Diversity & Inclusion
Slide 71: Agenda
71 Agenda Positioned for growth Existing strategies and fees ESG New strategies and talent Case studies Closing remarks Capital Markets Day January 2020
Slide 72: Sale and Leaseback
72 Sale and Leaseback Kevin Cooper Co-Head of Real Estate Capital Markets Day January 2020
Slide 73: Unique opportunity given credit and real estate expertise
73 Unique opportunity given credit and real estate expertise Market Investor Platform opportunity demand Is there a Can we Does it fit compelling investment provide a differentiated our investment opportunity? offering? approach? Capital Markets Day January 2020
Slide 74: New strategy is a collaboration between existing teams
74 New strategy is a collaboration between existing teams 24 investment professionals €4.6bn Real Estate AUM UK Sale and Leaseback Market Investing in Opportunity ‘mission critical’ real estate 14 investment across continental professionals Europe €7.9bn AUM Senior Debt Partners UK & Europe Note: AU
Slide 75: Significant opportunity in an under served market
75 Significant opportunity in an under served market SLB transactions as a proportion of corporate real estate 25% 20% 15% 10% 5% 0% 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Europe US Source: Cushman and Wakefield, The European Sale and Leaseback Market Capital Markets Day January 2020
Slide 76: Differentiated offering with first dedicated European fund
76 Differentiated offering with first dedicated European fund Crowded US market Europe Only dedicated multi-strategy manager in Europe with a Sale and Leaseback strategy Capital Markets Day January 2020
Slide 77: Offering clients a differentiated investment proposition
77 Offering clients a differentiated investment proposition Strong market Transaction volume of c.€13bn per annum opportunity Potential for European activity levels to increase to US levels Compelling Opportunity for lessee to reinvest freed up capital rationale for lessee Reduces financing costs ‘P
Slide 78: …with strong ESG credentials
78 …with strong ESG credentials Energy Climate A reduction in energy intensity and associated greenhouse gas emissions across the portfolio action An increase in the amount of renewable energy Water Natural A reduction in water intensity across resources the property portfolio Waste Waste The implem
Slide 79: Strong investment pipeline across sectors and geographies
79 Strong investment pipeline across sectors and geographies Since inception Over 350 opportunities originated 218 Met broad investment criteria 110 Deals still in pipeline Investments 3 Capital Markets Day January 2020
Slide 80: Case study: Eroski
80 Case study: Eroski Business overview Spain’s fourth largest food retailer and the dominant player in Northern Spain Six hypermarkets across the Basque Country and Cantabria Good underlying operating business, generating c.€240m of EBITDA Transaction highlights Acquired in April 2018 for a total a
Slide 81: Creating sustainable growth and shareholder value
81 Creating sustainable growth and shareholder value Uniquely placed to achieve a leadership position in this area given our existing real estate and credit skills Scalable strategy with a large and enduring investment opportunity Sustainable fund with strong ESG credentials Significant growth poten
Slide 82: Infrastructure Equity
82 Infrastructure Equity Jérôme Sousselier Portfolio Manager Capital Markets Day January 2020
Slide 83: New strategy in an established asset class
83 New strategy in an established asset class Market Investor Platform opportunity demand Is there a Can we Does it fit compelling investment provide a differentiated our investment opportunity? offering? approach? Capital Markets Day January 2020
Slide 84: Team attracted to ICG as a dedicated mid-market manager
84 Team attracted to ICG as a dedicated mid-market manager Why this team? Why ICG? The team all have industrial Opportunity to work at a fully backgrounds and have worked integrated, European asset together for six years manager with a mid-market focus Average experience of the team Successful track
Slide 85: Deep infrastructure mid-market opportunity
85 Deep infrastructure mid-market opportunity Global Infrastructure Deals, 2009 - 2019 Transaction Value and Fund Size, 2017 3,500 600 12% Large deals ($1bn+) 3,000 500 49% 2,500 Aggregate deal value ($bn) 400 42% Number of deals Mid-size deals Large funds 2,000 ($100-999m) ($2bn or more) 300 1,500
Slide 86: Mid-market under served as established players get larger
86 Mid-market under served as established players get larger Brookfield IV GIP IV EQT IV Global Partners Group JP Morgan Direct investors: KKR III Canadian pension Antin IV plans, insurers, Sovereign wealth Basalt II funds… iCON IV DIF V First State II Infracapital III MEIF 6 Ardian V Infravia IV Eu
Slide 87: Offering clients a differentiated investment proposition
87 Offering clients a differentiated investment proposition Opportunity to invest Targeting the mid-market with majority of deals below $500m in the mid-market Mid-market underserved as existing managers raise larger funds Team have industrial backgrounds at leading corporates Proven track record Pr
Slide 88: Sustainable strategy with strong ESG credentials
88 Sustainable strategy with strong ESG credentials Energy Climate Exclusion of coal, nuclear, oil and gas projects action Ensure access to affordable, reliable and sustainable energy Water Infrastructure Building resilient infrastructure and promoting inclusiveness Waste Waste Reducing the environm
Slide 89: Strong investment pipeline across sectors and geographies
89 Strong investment pipeline across sectors and geographies Since inception Over 200 opportunities originated 121 Met broad investment criteria 44 Deals still in pipeline Investments 2 Capital Markets Day January 2020
Slide 90: Case study: Océinde Communications
90 Case study: Océinde Communications Business overview Leader in Fibre Océinde Communications is a leading regional fibre operator in France It is the number 1 operator ahead of Orange and SFR and is the only operator to offer ‘quad-play’. It runs a proprietary fibre network operating in a regulate
Slide 91: Creating sustainable growth and shareholder value
91 Creating sustainable growth and shareholder value Significant market opportunity Ability to offer flexible investment solutions Deeply experienced team with a proven track record Very scalable strategy with the potential to deliver significant shareholder value Capital Markets Day January 2020
Slide 92: Agenda
92 Agenda Positioned for growth Existing strategies and fees ESG New strategies and talent Case studies Closing remarks Capital Markets Day January 2020
Slide 93: Closing remarks
93 Closing remarks Benoît Durteste CEO Capital Markets Day January 2020
Slide 94: Well positioned for growth and increasing shareholder value
94 Well positioned for growth and increasing shareholder value Alternative asset class attracting increasing demand Our track record, size and brand are leading to gains in market share In our industry we are a market leader in ESG, but there is more to do AUM and profit growth will not be linear BU
Slide 95: Q&A
95 Q&A Capital Markets Day January 2020
Slide 96: Speaker biographies
96 Speaker biographies Benoît Durteste (CIO and CEO) Benoît joined ICG in Paris in September 2002 from Swiss Re where he was a Managing Director in their London Structured Finance division. Prior to Swiss Re, Benoît worked in the Leveraged Finance division of BNP Paribas and in GE Capital’s Telecom
Slide 97: Speaker biographies
97 Speaker biographies Antje Hensel-Roth (Head of Human Resources) Antje joined ICG in 2018. Prior to joining ICG, she was a Managing Director and Global Co-head of the Investment Management Practice at Russell Reynolds Associates. She started her career with A.T. Kearney in London as a Consultant i
Slide 98: Disclaimer
98 Disclaimer The materials being provided to you are intended only for informational purposes and convenient reference and may not be relied upon for any purpose. This information is not intended to provide, and should not be relied upon, for accounting, legal, tax advice or investment recommendati
Intermediate Capital Group — Investor Day (January 2020) on 6ix