SecondaryLink outlines the gross MOIC, IRR, and DPI of four ICG Strategic Equity and LP Secondary funds.
The strategy, anchored by a Korean institutional investor, has adopted an evergreen semi-liquid structure aimed at capturing emerging credit secondary opportunities throughout the cycle.
The mandate covers LP-led and direct transactions alongside SME acquisitions, with up to three managers eligible for commitments.
The European growth buyout investment manager closed a €635 million multi-asset CV earlier this year.
The New York-based asset manager entered private credit in 2024 by acquiring Avenue Capital's team and five funds with approximately $500 million in commitments.
The UK accountancy group is reportedly valued at more than £1 billion, with Penta retaining management of the asset after abandoning an earlier sale.
The single-asset continuation fund was reportedly backed by the California Public Employees' Retirement System, Partners Capital, and Caltech.
The firm's second continuation fund delivers a 9.1x gross MOIC for Equip Capital Fund I's investment.
SecondaryLink outlines the MOIC, IRR, and DPI of several ICG-managed secondary funds.
Key details emerge on the $1.9 billion continuation fund (including earnouts), which was co-led by GIC, StepStone, Apollo S3, and Neuberger Berman.
