CLOSE OF ITS SECOND ASIA PACIFIC FUND

17 Oct 2008 07:00



17 October 2008

EMBARGOED FOR 7.00AM

ICG ANNOUNCES CLOSE OF ITS SECOND ASIA PACIFIC FUND AT US$1.0 BILLION Intermediate 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"). Fund 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.  Fund 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. Commenting on the new fund, Tom Attwood, Managing Director of ICG, said: "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." Dr Chris Heine, Managing Director of Intermediate Capital Asia Pacific Limited, remarked: "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."

Enquiries:

Intermediate Capital Group PLC

Janine Peake, Investor Relations Director +44 (0) 20 7448 8731

Tom Attwood, Managing Director of Intermediate Capital PLC  +44 (0) 20 7628 9898

Chris Heine, 

Managing Director of Intermediate Capital Asia Pacific Limited +852 (0) 2297 3080

Brunswick Group Limited

Helen Barnes  +44 (0) 20 7404 5959

Further information on Intermediate Capital Group PLC

ICG was founded in 1989 and listed on the London Stock Exchange in 1994. Today ICG employs 73 investment executives in ten offices worldwide, and is the leading independent provider of mezzanine to mid market buyouts in Europe and Asia Pacific, with a growing presence in North America. ICG's activities in Asia Pacific began when it established an office in Hong Kong in 2001 and then opened two further offices in the region, in Tokyo and Sydney. Since its inception, ICG and its managed funds have invested more than €12bn in mezzanine and equity in over 500 transactions. Currently ICG manages €3bn in direct investments and €10bn in third party Mezzanine and Credit Funds. Further information can be found at: www.icgplc.com.