ICG Enterprise Trust Icg Enterprise Trust Plc: Portfolio Update - Icg Enterprise Trust Makes Three New Direct Investments
June 29 2022 - 5:13AM
UK Regulatory
TIDMICGT
ICG Enterprise Trust plc
Portfolio Update
29 June 2022
ICG Enterprise Trust makes three new direct investments
ICG Enterprise Trust plc (ICGT) is pleased to announce that it
has recently made two new direct co-investments and invested in a
secondary portfolio on behalf of its shareholders.
Precisely: direct co-investment alongside Clearlake Capital and
Insight Partners
On 15 June 2022, ICGT invested in Precisely alongside Clearlake
Capital and Insight Partners, both leading US private equity
managers. Precisely operates in the software sector and is a market
leader in data integrity software, serving over 12,000 customers in
more than 100 countries, including 90 percent of the Fortune
100.
ICGT will invest through a direct investment and is expected to
invest an additional $20m in Precisely.
ICGT has previously invested in Precisely alongside funds
advised by ICGT's Manager, ICG, who invested alongside Clearlake
Capital. At 30 April 2022, Precisely was amongst ICGT's 30 largest
company exposures (22(nd) largest exposure), accounting for 0.8% of
the Portfolio value.
ECA Group: direct co-investment alongside ICG
On 24 June 2022, ICGT invested in ECA Group, a business
combination of two French companies, ECA and iXblue. The
combination creates a leading player in the hi-tech manufacturing
sector, where it focuses on maritime autonomous systems and
navigation solutions.
ICGT is investing alongside ICG Europe Mid-Market Fund I, and
will also make a direct co-investment of approximately EUR15m in
ECA Group.
Project Ludgate Hill IIIA: direct co-investment alongside ICG in
LP secondary portfolio
On 28 June 2022, ICGT invested in Project Ludgate Hill IIIA, a
secondary portfolio of North American buyout investments. The
portfolio is highly diversified, with over 110 companies managed by
six third-party managers. The companies operate a range of sectors
that are consistent with ICGT's investment approach, including in
insurance and business services.
ICGT is investing alongside ICG LP Secondaries Fund I, and will
also make a direct co-investment of approximately $25m in Project
Ludgate Hill III.
Enquiries
Analyst / Investor enquiries: +44 (0) 20 3545 2000
Oliver Gardey, Head of Private Equity Fund Investment, ICG
Colm Walsh, Managing Director, ICG
Christopher Hunt, Head of Shareholder Relations, ICG
Livia Bridgman Baker, Shareholder Relations, ICG
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 growth by delivering consistently
strong returns through selectively investing in profitable private
companies, primarily in Europe and the US.
As a listed private equity investor, our purpose is to provide
shareholders with access to the attractive long-term returns
generated by investing in private companies, with the added benefit
of daily liquidity.
We invest in companies directly and through funds managed by
Intermediate Capital Group plc (ICG) and other leading private
equity 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.
(END) Dow Jones Newswires
June 29, 2022 05:13 ET (09:13 GMT)
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