ICG Raises €5.2 Billion with Largest European Debt Fund of 2017

November 15, 2017

London – Paul Hastings LLP, a leading global law firm, announced today that it has advised Intermediate Capital Group (“ICG”) on Senior Debt Partners III (“SDP3”), the largest pooled direct lending fund in Europe in 2017 to date (€5.2 billion).

The SDP3 transaction took from January to September 2017 to structure, document and close. The fund was oversubscribed and catered for a wide-range of investors, including a large number of pension fund and insurers. 

Investors were global, located in a large number of jurisdictions such as Israel, Korea, Australia, the US and Europe. Consequently, the structure had to be flexible enough to cater for a wide-range of international regulatory and tax requirements. There were also a number of other innovative aspects.

The Paul Hastings team advising ICG on the transaction and the structure was led by partner

 with associates  and  with assistance from tax partner  and associate . Partners Sophie Laguesse and Karl Pardens at Elvinger Hoss Prussen advised on Luxembourg law aspects.

At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.

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