ICG eyes its first senior debt fund

Intermediate Capital Group is looking at raising its first senior debt fund, according to a report in The Telegraph. The London-based asset manager is said to be aiming to fill the void that has developed in the market with bank lending slowing down, according to the newspaper.

Over the years ICG has launched four mezzanine debt funds. The manager also has 10 European CLOs under management with current AUM of roughly $6.9 billion, according to Creditflux data. This makes ICG the fourth largest manager of European CLOs.