Intermediate Capital Group Plc, (ICP) Europe’s largest provider of debt for leveraged buyouts, plans to raise a senior-debt fund from institutional investors, the Sunday Telegraph reported, citing the company.
Intermediate Capital, which manages 12 billion euros ($15.9 billion), said it’s “actively considering” the plan, according to the newspaper. It would be the first time the debt provider has raised a senior-debt fund and reflects the withdrawal of banks from the buyout market, the newspaper said.
A spokesman for Intermediate Capital said a decision would be made “reasonably shortly,” the Telegraph reported.
To contact the reporter on this story: Rob Sheridan in London at firstname.lastname@example.org
To contact the editor responsible for this story: Alaric Nightingale at email@example.com