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Share price

1,056 p
8:51AM 25 Jun 2021

Net Asset Value

1,402 p
As of 30 Apr 2021
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Our Portfolio

Investment activity

In this section

Healthy investment activity despite disrupted first half

£139m

CAPITAL DEPLOYED

36%

INVESTED IN HIGH CONVICTION INVESTMENTS

13

NEW PRIMARY COMMITMENTS

Year ended 31 January 2021

Whilst there was a slowdown in investment activity in the first half of the year at the onset of the COVID-19 pandemic, we continued to source attractive investment opportunities and maintained a healthy level of investment activity for the year, deploying capital into both High Conviction Investments and Third Party Funds. In total we invested £139m, of which £90m was in Third Party Funds and £49m (36%) was in High Conviction Investments.

Our Third Party Funds generated over 20 direct investment opportunities. Of these 20, we completed three new Direct Investments in the year for a total of £16m. These new investments were made in:

Company Manager Company sector / description ICG Enterprise Trust investment during the year
Visma Hg Provider of business management software and outsourcing services £4m
AML RightSource Gridiron Provider of compliance and regulatory services and solutions £6m
Curium Pharma ICG Strategic Equity Supplier of nuclear medicine diagnostic pharmaceuticals £6m

The remaining £33m of High Conviction Investments made in the year were through ICG funds (£22m), Secondary Investments (£9m) and add-on investments for existing Direct Investments (£2m).

13 new fund Commitments to both existing and new manager relationships

We continued to commit selectively to top-tier managers who are aligned with our long-term strategic objectives and have an investment approach that complements our defensive growth focus. We completed 13 new Third Party Fund Commitments in the year totalling £95m. Three of these Commitments were to managers with whom we have not invested before, demonstrating our ability to source and execute new opportunities to work with top tier managers. The managers we back tend to raise funds which are often oversubscribed and therefore difficult to access to new investors.

We made the following Commitments to funds with investment mandates:

Fund Focus ICG Enterprise Trust Commitment during the year
Apax X  Global buyouts in the technology & telecoms, services, healthcare, and consumer sectors  €10m (£9m) 
Bain Capital Tech Opportunities  Mid-market buyouts and late stage growth capital in technology and technology-enabled businesses in North America  $5m (£4m)
Bain XIII  Large buyouts in North America   $10m (£8m)
Charlesbank X  Mid-market buyouts in North America  $10m (£7m)
Clayton, Dubilier & Rice XI  Mid-market and large buyouts in North America   $10m (£7m)
CVC VIII  Large buyouts in Europe  €15m (£14m)
FSN Capital VI  Mid-market buyouts in Northern Europe  €10m (£9m)
Gridiron IV   Mid-market buyouts in the US  $3m (£2m)
Top-up to existing Commitment
Hg Genesis 9 and Hg Saturn 2   Northern European software and services  £9m
Leeds VII   Mid-market buyouts in North America  $10m (£7m)
New Mountain VI   Mid-market buyouts in North America  $14m (£10m)
PAI Mid-market   Lower mid-market buyouts in Europe  €10m (£9m)
Shareprice Net Asset Value

Share price (ICGT)

1,056p
10.00P (0.96%)
8:51AM 25 Jun 2021
The share price information is delayed by at least 15 minutes
Share price information

Net Asset Value

1,402p
As of 30 April 2021
Next update: Q2 results, October 2021
NAV information
Year Net assets NAV per share Share price Dividends per share
Jan 2021 £952m 1,384p 966p 24p
Jan 2020 £794m 1,152p 966p 23p
Jan 2019 £731m 1,057p 822p 22p
Jan 2018 £664m 959p 818p 21p
Jan 2017 £613m 871p 698p 20p
Jan 2016 £521m 731p 545p 11p
Jan 2015 £507m 695p 575p 15.5p
Jan 2014 £494m 677p 563p 15.5p
Jan 2013 £460m 631p 487p 5p
Jan 2012 £415m 569p 357p 5p
Jan 2011 £389m 534p 308p 2.25p
Dec 2009 £338m 464p 305p 2.25p
Dec 2008 £327m 449p 187p 4.5p

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