ICG Enterprise Trust executes secondary sale
2 April 2025
ICG Enterprise Trust executes secondary sale
ICG Enterprise Trust (“ICGT”) is pleased to announce the sale of eight mature primary fund investments, generating net cash proceeds of £62 million.
The sale was executed at a discount of 5.5% to the 30 September 2024 valuation, having received significant buyer interest. It realises a return of 1.6x invested cost (15% IRR) to ICGT, and releases undrawn commitments of £10m.
The proceeds have been received and will be deployed into opportunities in line with ICGT’s investment objectives and capital allocation policy.
Oliver Gardey and Colm Walsh, Portfolio Managers for ICG Enterprise Trust, commented:
“This is the fourth time in the last five years that ICGT has executed a secondary sale of mature fund investments, as part of our active approach to managing our Portfolio and our focus on maximising shareholder returns.
These eight primary fund investments, with vintage years ranging from 2014 to 2020, delivered good returns in aggregate for ICGT but we believe have limited future potential relative to other opportunities.
This sale allows ICGT to take advantage of a strong pricing environment and enables us to redeploy this capital into opportunities that we believe will generate additional long-term value for our shareholders.”
Enquiries
| Analyst / Investor enquiries: | |
| Martin Li, Shareholder Relations, ICG | +44 (0) 20 3545 2020 |
| Nathan Brown, Deutsche Numis | +44 (0) 20 7260 1426 |
| David Harris, Cadarn Capital | +44 (0) 20 7019 9042 |
| Media: | |
| Clare Glynn, Corporate Communications, ICG | +44 (0) 20 3545 1395 |
| Website: | |
| www.icg-enterprise.co.uk |
About ICG Enterprise Trust
ICG Enterprise Trust is a leading listed private equity investor focused on creating long-term compounding growth by delivering consistently strong returns through selectively investing in profitable, cash-generative private companies, primarily in Europe and the US.
We invest in companies directly as well as through funds managed by ICG and other leading managers who focus on creating long-term value and building sustainable growth through active management and strategic change.
We have a long track record of delivering strong returns through a flexible mandate and highly selective approach that strikes the right balance between concentration and diversification, risk and reward.
Disclaimer
This report may contain forward looking statements. These written materials are not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended, or an exemption therefrom. The issuer has not and does not intend to register any securities under the US Securities Act of 1933, as amended, and does not intend to offer any securities to the public in the United States. No money, securities or other consideration from any person inside the United States is being solicited and, if sent in response to the information contained in these written materials, will not be accepted.
Although this investment does not amount to price sensitive material information, ICG Enterprise Trust is making this information public on an illustrative basis to aid with market understanding of our portfolio. Similar announcements may be made in respect of future non-material investments.
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