ICG on track to raise €2bn for European fund

The specialist investment firm Intermediate Capital Group yesterday said it saw a strong investment performance in 2012 and an increasingly benign environment for raising new funds, even though institutional investors are still cautious about making new investments in volatile markets.

ICG said it is also on track to complete its fifth European fund, raising €2bn (£1.7bn). In the past three months sales of investments have raised £113m with capital gains of £43m.