Amundi and ICG launch evergreen fund for PE secondaries, a €107B market
What's the deal? Intermediate Capital Group (ICG)Dealroom has a profile for this one. Try Dealroom → and AmundiDealroom has a profile for this one. Try Dealroom → have launched AmundiDealroom has a profile for this one. Try Dealroom → ICG Global Private Equity Secondaries, their first jointly developed fund, aimed at wealth clients. The evergreen fund gives investors access to ICG's strategy for LP-led secondary transactions in private equity.
What's the endgame? The fund offers exposure to a diversified pool of private companies across North America and Europe. It has already made its first investment in both regions.
Why now? The launch comes as the private equity secondaries market gains momentum. LP-led secondary deals hit a record €107 billion in 2025, averaging 15% annual growth over the past decade.
The structure targets several wealth-client needs: exposure to existing PE portfolios without waiting for capital to deploy; monthly subscriptions and quarterly redemptions, subject to restrictions; and access to opportunities historically reserved for institutional investors.
Who does what? The fund combines ICG's secondaries investment platform and underwriting discipline with Amundi's structuring capabilities and distribution network.
Oliver Gardey and Ryan Levitt, co-managers of the fund at ICG, said they were "delighted" to launch a product that gives wealth investors access to a strategy "historically reserved for institutional investors," offering "immediate exposure to a highly diversified set of leading companies held by private equity funds in the United States and Europe."
Vincent Mortier, chief investment officer at Amundi, called the first jointly developed fund "an important milestone" in the partnership between the two firms.
The signal: Opening institutional-grade secondaries to wealth clients reflects a broader push to widen retail access to private markets — a theme asset managers increasingly frame around diversification and retirement planning.
Read more: croissanceinvestissement.com
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