Private equity company ICG Enterprise Trust Plc. (ICGT.L) on Wednesday announced the sale of eight mature primary fund investments, which generated cash proceeds of 62 million pounds. The transaction was done at a 5.5 percent discount to the September 30, 2024 valuation. The company said that this is an indication of high demand among buyers.
The proceeds from the sale will be reinvested in line with the company's investment strategy and capital allocation policy, ICG Enterprise Trust added.
Commenting on this sale, Oliver Gardey and Colm Walsh, Portfolio Managers at ICG Enterprise Trust, said, "This marks the fourth time in the past five years that ICGT has executed a secondary sale of mature fund investments. While these eight investments, with vintages ranging from 2014 to 2020, delivered strong returns, we believe their future potential is limited compared to other opportunities."
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