About This Fund
ICG Asia Pacific Fund IV is a closed-ended structured capital fund managed by ICG (Intermediate Capital Group), a global alternative asset manager headquartered in London with over $71 billion in assets under management across Credit, Equity and Real Assets. The fund represents ICG's flagship investment strategy for the Asia Pacific region, backed by the firm's 20-year track record of direct investment in mid-market companies across developed Asia Pacific markets.
The fund pursues a highly differentiated investment approach centered on locally sourced and directly originated mid-market businesses across Australia, New Zealand, Japan, South Korea, Hong Kong, and Southeast Asia. ICG's Asia Pacific team structures bespoke and complex capital solutions spanning senior debt, subordinated debt, mezzanine financing, and equity, with a consistent emphasis on downside protection and capital preservation. This structured capital approach enables the fund to provide flexible growth financing and ownership transition support to companies that may not fit conventional PE or pure credit mandates, creating a differentiated opportunity set with asymmetric risk characteristics.
Asia Pacific Fund IV achieved its final close of $1.1 billion in May 2022, exceeding its $1 billion fundraising target and representing a 60 percent increase compared to the prior vintage fund. Capital was raised from a broad and diversified group of international institutional investors seeking dedicated Asia Pacific private market exposure. Shortly after the final close, the fund had already completed four initial investments and deployed approximately 32 percent of committed capital. Notable early portfolio companies include Canopy Healthcare Group, Everlight Radiology, and Cura Day Hospitals, reflecting the team's conviction in the region's healthcare sector and the opportunities arising from complex ownership situations and growth financing needs.