ICG Enterprise Trust plc (ICGT) is pleased to announce that it has made a $20.0m commitment to Gridiron Capital Fund V, a US-based fund managed by Gridiron Capital (Gridiron). Gridiron focuses on investing in middle-market branded consumer, B2B and B2C services and niche industrial businesses.
This is ICGT’s third commitment to funds managed by Gridiron, following a $15.0m commitment to Gridiron Capital Fund III in 2016 and a $17.5m commitment to Gridiron Capital Fund IV in 2019.
Gridiron Capital Fund III and Gridiron Capital Fund IV have both performed strongly. ICGT recently benefitted from the successful realisation of Rough Country (previously one of ICGT’s 30 largest company exposures) and has also co-invested directly in two Gridiron investments, AML Rightsource and Class Valuation. Both of these investments were amongst the 30 largest company exposures for ICGT at 31 October 2021 and represented, at that time, a combined 2.1% of the portfolio value.
Analyst / Investor enquiries: +44 (0) 20 3545 2000
Oliver Gardey, Head of Private Equity Fund Investments, ICG
Colm Walsh, Managing Director, ICG
Chris Hunt, Investor Relations, ICG
Clare Glynn, Corporate Communications, ICG +44 (0) 20 3545 1395
ICG Enterprise Trust ICG Enterprise Trust is a leading listed private equity investor focused on creating long-term growth by delivering consistently strong returns through selectively investing in profitable private companies, primarily in Europe and the US.
As a listed private equity investor, our purpose is to provide shareholders with access to the attractive long-term returns generated by investing in private companies, with the added benefit of daily liquidity.
We invest in companies directly and through funds managed by Intermediate Capital Group plc (ICG) and other leading private equity managers who focus on creating long-term value and building sustainable growth through active management and strategic change.
We have a long track record of delivering strong returns through a flexible mandate and highly selective approach that strikes the right balance between concentration and diversification, risk and reward.
This report may contain forward looking statements. These written materials are not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended, or an exemption therefrom. The issuer has not and does not intend to register any securities under the US Securities Act of 1933, as amended, and does not intend to offer any securities to the public in the United States. No money, securities or other consideration from any person inside the United States is being solicited and, if sent in response to the information contained in these written materials, will not be accepted.
Although this investment does not amount to price sensitive material information, ICG Enterprise Trust is making this information public on an illustrative basis to aid with market understanding of our portfolio. Similar announcements may be made in respect of future non-material investments.