Line graph showing growth

An actively managed portfolio of private companies

1,190.00

1,959p

£1.44 billion

Portfolio value

(31 Oct 2023)

4.8%

Portfolio return

(12 months to 31 Oct 2023 on a local currency basis)

£29 million

New investments

(three months to 31 Oct 2023)

Close-up of a dog on a blue background
01

PetSmart (Chewy)

Co-investment alongside BC European Capital IX

Row of test tubes with liquid, pink background
02

DOC Generici

DOC Generici is a leading manufacturer of generic pharmaceuticals based in Italy

Balanced constructor from colorful curved wooden planks in the form of spiral figure on a light pink background with soft shadows
03

Gridiron Capital

ICGT’s third commitment to funds managed by Gridiron, following a $15.0m commitment to Gridiron Capital Fund III (2016) and a $17.5m commitment to Gridiron Capital Fund IV (2019)

Digital image showing paper- and computer-storage based filing
04

Visma

Norwegian business management software developer simplifying and automating complex and manual work processes.

3D rendered financial performance bar chart results shot on a reflective background
05

ICG Ludgate Hill I

Diversified by fund and sector

06

Digicert

DigiCert is a global internet security software platform

European Camping Group property
07

European Camping Group (ECG)

A leading European operator of premium campsites

08

Archer Technologies

Archer is a leading provider of governance, risk and compliance (‘GRC’) software solutions globally, with a diverse customer base of large and mid mid-sized enterprises

3d render of blue rounded financial chart
09

Circana (formerly known as IRI, Information Resources Inc.)

Exit agreed in the quarter to 30 April 2022

Scene within early years infant school setting within the Endevor Schools network
10

Endeavor Schools

Leading provider of private education in the US

MINIMAX fire detectors
11

Minimax

In July 2018, ICG Enterprise made a co-investment of €14m in Minimax alongside ICG Europe VI, ICG Europe VII and ICG plc.

3D rendered round shapes in transparent material on a light back
12

TJC

TJC was founded in 1982. It specialises in buying and building businesses in partnership with management.

Empire State Building, New York City
13

AEA Fund VII

Long established US private firm, founded in 1968

Woman holding pill and blank white plastic tube on pink background
14

Berlin Packaging

Co-investment alongside Oak Hill Capital Partners

Teacher and children using technology in the classroom
15

Cambium

A provider of educational software for primary schools in the US

Scientific liquid measuring equipment
16

CPA Global

Strong growth through geographic expansion

Golden Gate Bridge, San Francisco, California, USA
17

Gryphon Investors

Long-established US manager based in San Francisco

Shades of blue performance charts on grey background.
18

Guardian

A consolidator of closed life insurance books

Transamerica Pyramid, San Francisco, California, USA
19

Oak Hill Capital

US manager tracing its roots back to 1986

Engineers working on Renault Formula One car
20

Micheldever

The UK's leading distributor of tyres

Medical face masks
21

Quirónsalud

The leading private healthcare operator in Spain

Overhead view of the working woman hands typing on keyboard notebook laptop computer at office desk
22

RegEd

A leading provider of regulatory compliance software solutions

Coaches and buses with air conditioning unit shown on one
23

Spheros

Global market leader in development and manufacturer of air conditioning and heating systems for buses.

Carer serving meal to a lady
24

Tailwind Capital and Adobe Healthcare

An attractive investment partner and a successful exit

A global focus

We identify and invest in profitable and exciting businesses across the world to deliver value and growth.

North America

43%

of portfolio investment

£618m at 31 Oct 2023

Europe (inc. UK)

50%

of portfolio investment

£719m at 31 Oct 2023

North America

43%

of portfolio investment

£618m at 31 Oct 2023

Europe (inc. UK)

50%

of portfolio investment

£719m at 31 Oct 2023

Portfolio sector snapshot

24%

Technology, media & telecom

21%

Consumer goods & services

13%

Healthcare

13%

Business services

8%

Industrials

21%

Financials, education, leisure and other

Portfolio analysis

ICG Enterprise Trust portfolio performance

Our closely monitored and actively managed portfolio delivers consistent growth with a strong annual returns and successful exits.

Discover

Defensive growth explained

Colm Walsh answers: What is defensive growth?

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Secondary investments explained

Oliver Gardey answers: What are secondaries?

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Private equity investors explained

Colm Walsh answers: Who is PE for?

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Private equity in 60 seconds

Colm Walsh answers: What is private equity?

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The case for private equity

Oliver Gardey answers: Why invest in PE?

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Meet our investment team

Kelly has worked on a wide range of primary funds and co-investments in Europe and the US

Kelly Tyne

Vice President

Kelly Tyne

Oliver has overall responsibility for the development and execution of ICG Enterprise Trust's investment strategy. He has extensive experience across the private equity market, as a direct, secondary and fund investor.

Oliver Gardey

Head of Private Equity Fund Investments, ICG

Oliver Gardey

Liza brings experience of both fund and direct investments in Europe and Asia to the Investment Committee. She has a broad range of relationships with both managers and investors in private equity which help provide insights on new opportunities.

Liza Lee Marchal

Managing Director

Liza Lee Marchal

Colm brings experience of both fund and direct investments in Europe and the US to the Investment Committee. He has a broad range of relationships with both managers and investors in private equity which help provide insights on new opportunities.

Colm Walsh

Managing Director

Colm Walsh, Managing Director, Private Equity Fund Investments, ICG

Josie focuses on North American buyout investments, including the evaluation, due diligence, and monitoring of partnerships.

Josie Fair

Vice President

Josie Fair

Lili, a Chartered Accountant, joined the investment team in 2019.

Lili Jones

Vice President

Lili Jones