ICG Enterprise Trust

Welcome to the show. Today, we're unpacking the forty-year-plus journey of a listed private equity investor that’s seen a few name changes: ICG Enterprise Trust. The story begins in 1981. The company was established and listed on the London Stock Exchange, initially focusing on venture capital for unquoted companies. It started its life as F&C Enterprise Trust, managed by F&C Asset Management. The goal was to provide investors with access to the growth of private businesses in Europe and the US. The trust quickly built a strong reputation, becoming the UK's top-performing investment trust between 1992 and 1997. A significant chapter began in 2001 when management shifted to Graphite Capital, and the trust was renamed Graphite Enterprise Trust. For the next fifteen years, it continued its strategy of investing in primary and secondary funds, as well as co-investments. The most recent pivotal event came in 2016. Intermediate Capital Group (ICG) acquired the management contract, and the company became ICG Enterprise Trust, as it is known today. This move integrated the trust into a larger, global alternative asset manager, providing access to a broader network and enhanced deal flow. Today, ICG Enterprise Trust is a constituent of the FTSE 250 Index and focuses exclusively on buyouts of profitable, cash-generative companies.