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ICG Core Private Equity Fund
Key Statistics
Fund Size
€70M
Target Return
15.0%
Annualized Return
22.3%
Launch Year
2024
Availability
Open through selected distributors
Structure
SICAV
Product Category
Open-end
Domicile
Luxembourg
GP Type
Single
Liquidity Level
Semi-liquid
Management Fee
1.5%
Carry
12.5%
High Water Mark
No
Currencies
USD, EUR
Investor Eligibility
Professional
Liquidity Options
Semi-liquid; quarterly
Highlights
Allocations
Geographic Focus
Investment Strategy
Industry Focus
Portfolio Composition
Information about fund
Mature Private Equity at a Discount, Evergreen
ICG Core Private Equity Fund is ICG’s evergreen secondaries vehicle for private wealth, launched in 2024 as a semi-liquid Luxembourg fund. It purchases LP-led secondaries — stakes in existing private equity funds sold by investors seeking liquidity — which means mature, cash-generating companies bought at a discount rather than blind-pool commitments, and a much shorter J-curve than a primary fund. The team behind it has invested together in LP secondaries for more than 16 years, across both closed-end and evergreen structures.
Key Facts (Fundscouter 2025 snapshot)
Fund Size
~€70M
2025 snapshot; not updated by ICG
Since Inception
22.3%
Annualised; target 15% net
Fees
1.5% + 12.5%
Management + carry
Liquidity
Quarterly
90 days’ notice, two gates
Strategy
LP secondaries
Europe ~75% / North America ~25%
Investors
Professional
Via selected distributors
Terms and Caveats
Fundscouter research from 2025 recorded a fund size of about €70 million, a target net return of 15% a year with an annualised return of 22.3% since inception, a 1.5% management fee and 12.5% carry, and quarterly redemptions with 90 days’ notice subject to two redemption gates. ICG does not publish current figures for the fund, so those numbers should be treated as a point-in-time snapshot. The fund is offered to professional investors through selected distributors — private banks, RIAs, platforms and partners such as Amundi.
Deepdive & Related Funds
Intermediate Capital Group (ICG) Core Private Equity Fund – Evergreen Secondaries
Discover ICG Core Private Equity Fund – a Luxembourg evergreen private equity secondaries strategy with semi-liquid structure, 22.3% IRR & €70M AUM.
Amundi Private Markets ELTIF
Amundi Private Markets ELTIF (“Amundi Prima”) is an evergreen Luxembourg ELTIF launched in November 2024 by Europe’s largest asset manager, run by Amundi Alpha Associates. It allocates flexibly across private equity, private debt and infrastructure in Europe’s real economy (energy transition, digital, social and territorial projects). €1,000 minimum, monthly subscriptions, quarterly redemptions capped at 5% of NAV, SFDR Article 8, KID risk 5/7. Fund size and returns are not yet published.
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BlackRock Private Equity Fund (BPE)
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Bridgepoint Generations
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Brookfield Private Equity Fund (BPE SICAV)
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Carlyle Private Equity Partners Fund EU (CPEP EU)
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CollerEquity
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CVC-PE Global Private Equity
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