ICG Strategic Equity

HeadquartersLondon, UK & New York, USA

Founded2014 (parent ICG founded 1989)

OwnershipPart of Intermediate Capital Group (publicly listed, LSE: ICG)

StrategyGP-led secondaries and continuation vehicles exclusively

Scale$20B+ committed to continuation vehicle transactions since launch

Intermediate Capital Group (ICG), a London-listed alternative asset manager founded in 1989 and originally focused on mezzanine and private credit, launched its Strategic Equity platform in 2014 to focus exclusively on GP-led secondaries — principally continuation vehicles built around a manager's strongest remaining assets.

Unlike most firms on this list, ICG Strategic Equity does not buy diversified LP fund stakes at all; its entire strategy is structuring and backing continuation funds and other GP-initiated transactions, working directly with fund managers rather than sourcing from LP sellers.

The platform has committed more than $20 billion to some of the largest and most complex GP-led transactions in the market since launch, with a team of 20-plus dedicated investment professionals split between New York and London.

Worth knowing

One of the only large platforms that does GP-led secondaries exclusively, with no LP-stake business at all.

See the full buyer directory, or read the glossaryfor the terms (LP-led, GP-led, continuation fund) that describe how firms like this actually transact.