Debevoise Advises ICG in $1 Billion Debut LP Secondaries Fund

3 April 2024

Debevoise & Plimpton LLP has advised ICG, the global alternative asset manager, in its debut LP-led secondaries fund, ICG LP Secondaries I (“LPS I”).

LPS I, which specialises in acquiring buyout fund interests from limited partners, reached its hard cap of $1 billion after being significantly oversubscribed. Including co-investment special purpose vehicles and separately managed accounts, the total commitments are $1.6bn.

For full details, see the official release here.

The Debevoise team advising ICG was led by partner Geoffrey Kittredge, and included international counsel Benjamin Amos, and associates Lisa Sheldrick and Nikhil Subbiah. Luxembourg advice was provided by international counsel Christopher Dortschy, and associates Lukas Ott and Mathieu Voos. UK regulatory advice was provided by international counsel John Young. U.S. Regulatory advice was provided by partner Marc Ponchione and counsel Sheena Paul. UK tax advice was provided by partner Richard Ward, international counsel Jennifer Wheater, and associates Charles Cartiglia and Christopher Gossage. U.S. tax advice was provided by partner Matthew Saronson, international counsel Matthew Pincus, and associates Samuel Lewis, Erasmo Perez, and Veronika Polakova.