ICG-Longbow raises £500m for latest senior debt fund
ICG-Longbow, the real estate debt arm of Intermediate Capital Group, has collected £500 million ($653 million) for its latest senior debt fund in a first close, Senior Debt Programme Vintage IV, news sources say.
Investors included public- and private-sector pension funds and a U.K. insurer, some of which had committed to previous funds in the fund series.
Senior Debt Programme Vintage IV will target mid-market lending opportunities in the United Kingdom, ranging from £10 million ($13 million) to £100 million ($130 million).
More than £150 million ($196 million) has been invested already across seven transactions.
ICG-Longbow Senior Secured U.K. Property Debt Investments, a closed-end investment company listed on the London Stock Exchange, implements its senior loan investment strategy through its investment adviser ICG-Longbow.
According to ICG-Longbow Senior Secured U.K. Property Debt Investments website, the company’s goal is to construct