ICG attracts €1.1bn to new fund

Buyout funder Intermediate Capital Group yesterday said it has raised €1.1bn at the first closing of its new Europe fund, well on the way to its €2bn target. Around €500m came from the firm’s investment company. ICG said in a trading update that its mezzanine funds are performing well compared with private equity funds, and that its investment portfolio is holding up amid the market turbulence. The firm’s shares closed up almost eight per cent at 214p.