Please note: IGC Core is currently not available for individual investors, the fund is currently open through selected distributors.
Intermediate Capital Group (ICG) is a major name in alternative asset management, with more than $107 billion in AUM and a long track record across private equity, credit, and infrastructure. Founded in 1989, the firm has built a global platform designed to deliver flexible capital solutions to institutional and professional investors alike.
The Fund’s Purpose
The ICG Core Private Equity Fund is an evergreen strategy focused on private equity secondaries. Built specifically for professional investors, it offers access to a portfolio of mature, cash-generating private equity assets—without locking up capital for the typical 10+ years you’d expect from a traditional private equity fund.
The goal like most Evergreen funds is to make private equity more accessible, with lower entry barriers, more frequent liquidity windows, and exposure to deals that would otherwise be hard to access.
Structure & Liquidity
The fund is set up as a semi-liquid evergreen vehicle, the fund allows for periodic liquidity consistent with the nature of the underlying assets. Investors have regular redemption chances, though not daily-dealing like a mutual fund, subject to normal gating and notice periods. This is helpful for creating long-term exposure without complete illiquidity. It is domiciled in Luxembourg and operates under a single GP structure. Liquidity is monthly with 90 days’ notice and subject to dual redemption gates.
Strategy
At its core, this fund is all about secondaries. It buys existing interests in private equity funds—sometimes alongside co-investments—which gives investors immediate exposure to seasoned portfolios, reducing blind-pool risk and shortening the J-curve. The portfolio is broadly diversified across vintages, geographies, and managers, with ICG’s global network providing consistent deal flow.
The Team
The fund is managed by ICG’s experienced private equity secondaries team, backed by the firm’s wider investment and operational platform. With decades of experience across market cycles and deep GP relationships, the team brings institutional discipline and a clear focus on downside protection.
Why Consider This Fund?
Exposure to mature private equity assets without the typical 10-year lockup
Evergreen structure with built-in liquidity windows
Diversified secondaries strategy, reducing risk and improving cash flow visibility
Managed by one of the most established players in the private markets space
Target return of 15%, with a realized annualized return of 22.3% since inception
Management fee of 1.5% and 12.5% performance carry
