ICG acquires Australian real estate debt investor Newground

Photo: Reuters

London-listed global alternative asset manager Intermediate Capital Group (ICG) announced on Tuesday that it has acquired the Australian real estate debt investor Newground Capital Partners (Newground) for an undisclosed amount.

The newly acquired business, which will trade as ICG-Newground, will underwrite loans of A$30-200 million ($23-154 million) to owners of value-add, stabilised, and construction assets, according to the announcement.

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