Paul Hastings Advised ICG on $17 Billion Direct Lending Fund

Paul Hastings LLP advised global alternative asset manager, Intermediate Capital Group (“ICG”), on the fifth direct lending fund that recently closed significantly over target at $17 billion from limited partners, the largest European direct lending fund to date. The fifth vintage of its flagship direct lending strategy, Senior Debt Partners (“SDP”) was originally targeting $11-12 billion in commitments with plans to offer loans to PE-backed middle market companies based in Europe.

The Paul Hastings team was led by Funds partner Diala Minott, who set up the first regulated direct lending fund in Luxembourg in 2009 for ICG and has since advised on every vintage of the SDP Platform since then, including SDP 5.

The team also included partners Jiten Tank, Anna Rips, Zach Milloy; Of Counsel Rob Wilson; fund associates Christina Allen, Emma Robinson, Mark Fung, Shivang Patel, Mark Raymond, and Adam Saraany; and tax associate Abigail Hung.

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