Statement re ICG ANNOUNCES THE CLOSE OF ITS REC...

Embargoed until 8.00am on Tuesday 13 April 2010 ICG ANNOUNCES THE CLOSE OF ITS RECOVERY FUND AT €843 MILLION Intermediate Capital Group PLC ("ICG"), a leading investor and alternative asset manager, announces the closing of its €843 million ICG Recovery Fund ("the Fund"). Along with ICG PLC's co-investment and its third party funds, ICG now has approximately €1.5 billion to invest in European recovery opportunities. This is believed to be one of the largest pools of capital targeting recovery opportunities in Europe raised since the onset of the credit crisis. In an economic environment where the availability of debt is considerably constrained the ICG Recovery Fund focuses on recapitalising balance sheets of strong but over leveraged European mid market companies seeking to delever and invest in growth. Approximately 30% of the Fund has already been invested. The Fund attracted a significant number of new third party investors to ICG notably from the US, Asia and the Middle East. Commenting on the new Fund, Benoit Durteste, Fund Manager of the ICG Recovery Fund, remarked: "The success of the fundraising is testament to ICG's ability to invest across the capital structure of strong European mid market companies that have been adversely impacted by external liquidity or credit issues. Our investment teams are focused on providing flexible financing structures that facilitate the recovery and growth of private equity backed businesses." Christophe Evain, Chief Executive Officer of ICG, said: "We are grateful for the continued support from our existing investors and are delighted to welcome a meaningful number of new investors to ICG. The Fund is a great endorsement of ICG's strategy, excellent 20 year track record, and the calibre of our local network of investment professionals. It further cements ICG's position as a leading alternative asset manager." Lazard acted as the lead global placement agent for the private placement of the limited partnership interests. About ICG Founded in 1989 Intermediate Capital Group PLC ("ICG") is a leading investor and alternative fund manager specialising in credit risks. It is a leader in the management of investments in mezzanine, minority equity, buyout debt and related assets. It has approximately €12 billion under management in proprietary capital and third party funds. ICG has a large and experienced investment team of investment executives operating from its head office in London and offices in Paris, Madrid, Stockholm, Frankfurt, Amsterdam, Hong Kong, Sydney and New York. Its stock (ticker symbol: ICP) is listed on the London Stock Exchange. Further information is available at: www.icgplc.com. Enquiries: Benoit Durteste, Fund Manager of ICG Recovery Fund, ICG             +44 (0)20 7628 9898 Jean-Christophe Rey, ICG PLC Investor Relations, ICG +44 (0)20 7448 5876 Press enquiries: Amanda Fong, Corporate Communications, ICG PLC             +44 (0)20 7448 4156 Charlotte Kirkham, M: Communications             +44 (0)20 7920 2331 [HUG#1402775]
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