ICG Strategic Partnership Presentation to State of Connecticut Retirement Plans and Trust Funds (CRPTF)
Current and near-term market dynamics.
Attractive environment for our flexible strategy
Rising interest
●
●
●
●
●
●
●
●
rates
Decreasing
leverage on new
transactions
High inflation
and supply
chain pressure
Credit market
dislocation
Demand for experienced financial partnerships
Long-term owners seeking to take advantage of wider macro environment
Increased demand for value creation support
Wall of PE dry powder driving need for investments
Reduced senior leverage available for private companies
Withdrawal of LP co-invest capability drives need for partnership
Extended investment horizons driving recapitalisations
Compounding
effect of Covid
& macro
headwinds
Secondary opportunities through hung syndications and liquidity pressure
Transaction execution risk favours full capital solution providers
Recapitalisations of strong but over-levered companies (compounding effect of
Covid/Macro cycle)
¡CG
Consolidation
of stressed
industries
Corporate
Transactions
Sponsored
LBOS
Opportunity
Transactions
There is no guarantee that the Fund will achieve its objectives or avoid substantial losses.
Source: ICG. Data as at 30 June 2023. The views presented herein reflect the current opinions of ICG based on the current market environment and no representation is made as to the accuracy or completeness 11
of this information.View entire presentation