Simpson Thacher represented Intermediate Capital Group (ICG) in the establishment of ICG Strategic Equity Fund III and associated vehicles (“ICGSE III”). ICG has announced that ICGSE III raised $2.4 billion in capital commitments, exceeding its $1.6 billion target and more than doubling its $1.1 billion predecessor fund, which Simpson Thacher also advised ICG on in 2017. ICGSE III is expected to invest in sponsor-led secondary private equity fund transactions, with a primary focus on complex fund restructurings.
The Simpson Thacher team included Olga Gutman, Rony Rothken, John Tracy, Maya Reeves, Mia Pisk, Stacie Friedman and Terry Kim (Funds); Nancy Mehlman, Jodi Schneider, Jacqueline Clinton and Stefan Golubovic (Tax); Jeanne Annarumma (ERISA); and Mary Touchstone and Jessica Paletsky (Fund Finance).