How it started
History
The business was founded (as Intermediate Capital Group) by six investment professionals in 1989 and was first listed on the London Stock Exchange in 1994. In 2010 it was reported that the credit crunch was driving its growth. Intermediate Capital listed a new bond on the London Stock Exchange's Order book for Retail Bonds (ORB) in 2011.
ICG has diversified its business away from its origins in private debt and equity, buying the real estate business Longbow in 2014, and taking over management of the Graphite Enterprise Trust, which is now known as the ICG Enterprise Trust, in 2015. It hired an infrastructure investment team in 2018 and, in 2019, announced plans to build a private equity business in North America. The then $42.6 billion firm had a “strong ambition” to expand in the continent.
ICG has been a beneficiary of the trend for institutional investors to allocate assets to alternative investments, raising over €10bn during the year ended 31 March 2019.
In November 2022, it was announced ICG had acquired the Madrid-headquartered renewable energy platform, Dos Grados on behalf of its €1.5 billion ($1.56 billion) debut Infrastructure Fund (ICG Infra).
Intermediate Capital Group's shareholders consented for the company to change its name to ICG, at its Annual General Meeting in July 2025. In November 2025, ICG entered into a partnership with French asset management company Amundi, with the latter buying a 9.9% stake in ICG.
From Wikipedia’s article on ICG plc, shared under CC BY-SA 4.0.3