Largest investments
Top 30 companies
The table below presents the 30 companies in which ICG Enterprise Trust had the largest investments by value at 31 July 2023. The valuations are gross of underlying managers fees and carried interest.
Company |
Manager |
Year of investment(s) |
Country |
% of Portfolio value |
|
1 | Minimax Supplier of fire protection systems and services → Read case study |
ICG | 2018 | Germany | 3.1% |
2 | PetSmart Retailer of pet products and services → Read case study |
BC Partners | 2015 | United States | 2.7% |
3 | Froneri Manufacturer and distributor of ice cream products |
PAI | 2013 / 2019 | United Kingdom | 2.2% |
4 | Leaf Home Solutions Provider of home maintenance services |
Gridiron | 2016 | United States | 1.7% |
5 | European Camping Group Operator of premium campsites and holiday parks → Read case study |
PAI | 2021 / 2023 | France | 1.4% |
6 | Yudo Designer and manufacturer of hot runner systems |
ICG | 2017 / 2018 | South Korea | 1.4% |
7 | Curium Pharma Supplier of nuclear medicine diagnostic pharmaceuticals |
ICG | 2020 | United Kingdom | 1.4% |
8 | AML RightSource Provider of compliance and regulatory services and solutions |
Gridiron | 2020 | United States | 1.3% |
9 | Circana (formerly known as IRI) Provider of mission-critical data and predictive analytics to consumer goods manufacturers → Read case study |
New Mountain | 2022 | United States | 1.3% |
10 | Precisely Provider of enterprise software |
Clearlake / ICG | 2021 / 2022 | United States | 1.3% |
11 | Newton Provider of management consulting services |
ICG | 2021 / 2022 | United Kingdom | 1.2% |
12 | Ambassador Theatre Group Operator of theatres and ticketing platforms |
ICG / Providence | 2021 | United Kingdom | 1.2% |
13 | David Lloyd Leisure Operator of premium health clubs |
TDR | 2013 / 2020 | United Kingdom | 1.2% |
14 | Crucial Learning Provider of corporate training courses focused on communication skills and leadership development |
Leeds Equity | 2019 | United States | 1.1% |
15 | DomusVi Operator of retirement homes |
ICG | 2017 / 2021 | France | 1.1% |
16 | Visma Provider of business management software and outsourcing services → Read case study |
Hg Capital / ICG | 2017 / 2020 | Norway | 1.1% |
17 | PSB Academy Provider of private tertiary education |
ICG | 2018 | Singapore | 1.1% |
18 | Ivanti Provider of IT management solutions |
Charlesbank / ICG | 2021 | United States | 1.1% |
19 | Planet Payment Provider of integrated payments services focused on hospitality and luxury retail |
Advent / Eurazeo | 2021 | Ireland | 1.0% |
20 | DigiCert Provider of enterprise internet security solutions → Read case study |
ICG | 2021 | United States | 1.0% |
21 | ECA Group Provider of autonomous systems for the aerospace and maritime sectors |
ICG | 2022 | France | 1.0% |
22 | Davies Group Provider of specialty business process outsourcing services |
BC Partners | 2021 | United Kingdom | 1.0% |
23 | KronosNet Provider of tech-enabled customer engagement and business solutions |
ICG | 2022 | Spain | 0.9% |
24 | Class Valuation Provider of residential mortgage appraisal management services |
Gridiron | 2021 | United States | 0.9% |
25 | Brooks Automation Provider of semiconductor manufacturing solutions |
THL | 2021 / 2022 | United States | 0.8% |
26 | WCT Provider of clinical research outsourcing services |
The Jordan Company | 2021 | United States | 0.8% |
27 | Archer Technologies Developer of governance, risk and compliance software intended for risk management |
Cinven | 2023 | United States | 0.7% |
28 | AMEOS Group Operator of private hospitals |
ICG | 2021 | Switzerland | 0.6% |
29 | RegEd Provider of SaaS-based governance, risk and compliance enterprise software solutions → Read case study |
Gryphon | 2018 / 2019 | United States | 0.6% |
30 | Visage Provider of CEO leadership and coaching for small and mid-size businesses in the US |
Gridiron | 2022 | United States | 0.6% |
Total of the 30 largest underlying investments |
36.8% |
The 30 largest fund investments
The table below presents the 30 largest funds by value at 31 July 2023. The valuations are net of underlying managers’ fees and carried interest.
Fund |
Year of commitment |
Value £m |
Outstanding commitment £m |
|
1 | ICG Strategic Equity Fund III GP-led secondary transactions |
2018 | 34.8 | 10.8 |
2 | ICG Europe VII Mezzanine and equity in mid-market buyouts |
2018 | 33.4 | 6.6 |
3 | ICG LP Secondaries Fund I LP-led secondary transactions |
2022 | 33.2 | 26.0 |
4 | ICG Ludgate Hill I Secondary portfolio → Read case study |
2021 | 31.7 | 14.0 |
5 | Gridiron Capital Fund III Mid-market buyouts → Read case study |
2016 | 30.2 | 4.0 |
6 | CVC European Equity Partners VII Large buyouts |
2017 | 30.0 | 1.7 |
7 | PAI Strategic Partnerships Mid-market and large buyouts |
2019 | 29.0 | 0.3 |
8 | Graphite Capital Partners VIII Mid-market buyouts |
2013 | 27.2 | 1.0 |
9 | PAI Europe VII Mid-market and large buyouts |
2017 | 26.5 | 1.5 |
10 | Gridiron Capital Fund IV Mid-market buyouts → Read case study |
2019 | 23.7 | 1.0 |
11 | ICG Strategic Equity Fund IV GP-led secondary transactions |
2021 | 23.0 | 14.9 |
12 | ICG Ludgate Hill III Secondary portfolio |
2022 | 21.3 | 3.3 |
13 | Resolute IV Mid-market buyouts |
2018 | 20.5 | 1.5 |
14 | Sixth Cinven Fund Large buyouts |
2016 | 19.8 | 1.6 |
15 | Resolute II Secondary fund restructuring |
2018 | 18.9 | 1.1 |
16 | Oak Hill V Mid-market buyouts → Read case study |
2019 | 18.9 | 1.0 |
17 | CVC European Equity Partners VI Large buyouts |
2013 | 18.0 | 1.9 |
18 | Advent Global Private Equity IX Large buyouts |
2019 | 17.1 | 0.8 |
19 | Advent Global Private Equity VIII Large buyouts |
2016 | 17.1 | 0.0 |
20 | Seventh Cinven Fund Large buyouts |
2019 | 16.9 | 3.8 |
21 | AEA VII Mid-market buyouts → Read case study |
2019 | 16.3 | 0.6 |
22 | BC European Capital X Large buyouts |
2016 | 16.0 | 1.4 |
23 | Resolute V Mid-market buy-outs |
2021 | 15.7 | 1.1 |
24 | New Mountain Partners V Mid-market buyouts |
2017 | 15.4 | 1.7 |
25 | ICG Augusta Partners Co-Investor Secondary fund restructurings |
2018 | 15.3 | 17.6 |
26 | Thomas H Lee Equity Fund VIII Mid-market and large buyouts |
2017 | 15.2 | 2.2 |
27 | Gryphon V Mid-market buyouts → Read case study |
2019 | 14.9 | 1.7 |
28 | Graphite Capital Partners IX Mid-market buyouts |
2018 | 14.8 | 5.8 |
29 | BC European Capital IX Large buyouts |
2011 | 14.0 | 0.6 |
30 | ICG Europe Mid-Market Fund Mezzanine and equity in mid-market buyouts |
2019 | 13.1 | 7.6 |
Total of the largest 30 fund investments |
642.2 |
138.3 |
||
Percentage of total investment Portfolio | 45.9% |