Close of Fund

30 Mar 2007 07:01

Intermediate Capital Group PLC30 March 2007 Embargoed until 7.00amFriday 30th March ICG ANNOUNCES CLOSE OF €2.25 BILLION EUROPEAN MEZZANINE FUND Intermediate Capital Group PLC ("ICG"), the leading specialist providerof mezzanine finance and fund manager in Europe and Asia, announces the closingof its €2.25 billion European Fund 2006 ("the Fund"), representing €1.25billionof equity interests and €1.0 billion of leverage. Almost 70% of the commitmentscome from European investors, 19% from Asia and the remainder from North Americaand the Middle East. The Fund will make primarily mezzanine investments in the financing of Europeanleveraged buyouts. In addition, the Fund is able to make equity co-investmentsand to purchase senior debt and mezzanine loans in the secondary debt market. AsICG has in the past, the Fund will target a well-diversified portfolio byindustry sector, geography, equity sponsor and investment size to deliversuperior investment returns on a risk-adjusted basis. ICG has the largest independent mezzanine investment team in Europe with 35executives operating out of ICG's head office in London and local offices inParis, Madrid, Stockholm and a representative office in Frankfurt. Commenting on the Fund, Tom Attwood, Managing Director of ICG, said: "This isour fourth European Mezzanine Fund, increasing our capacity to offer privateequity sponsors optimal financing structures in this dynamic market whileproviding attractive returns to our Fund investors. Over the years we havedeveloped strong, long-standing relationships with our existing investor base asevidenced by the fact that 78% of commitments come from existing LPs. We areparticularly pleased that this Fund has attracted a number of significant newinvestors thereby supporting ICG's growth." Enquiries: Tom Attwood, Managing Director, Intermediate Capital Group PLC (020) 7628 9898 Janine Peake, Head of Investor Relations, Intermediate Capital Group PLC (020) 7628 9898 Deborah Done/Helen Barnes, Brunswick Group Limited (020) 7404 5959 This information is provided by RNS The company news service from the London Stock Exchange