ICG Strategic Secondaries Fund II Raises $1.1 Billion
Simpson Thacher represented Intermediate Capital Group (ICG) in the establishment of ICG Strategic Secondaries Fund II. ICG announced that the fund raised $1.1 billion in capital commitments, exceeding its target of $1 billion, and that the fund, which is expected to invest primarily in private equity fund restructuring transactions and other secondary market opportunities, is approximately 40% invested.
The Simpson Thacher team included Olga Gutman, Rony Rothken, Sage Hughes and Jessie Chen (Private Funds); Nancy Mehlman and Jodi Schneider (Tax); and Jeanne Annarumma (ERISA).