PRICE 210p 10MAR09
Website WWW.icgplc.co.uk

StockMarketWire.com
Intermediate Capital Group has acquired the Graphite Capital Management LLP's private equity funds investment business for GBP20m, subject to regulatory approvals.

The business is responsible for managing and investing the Graphite Enterprise Trust, a London listed investment trust making primary and secondary fund investments and co-investments.

The trust will be renamed the 'ICG Enterprise Trust'. The private equity funds investment business is complementary to ICG's expertise in investing in private markets, combining flexible solutions and local access and insight into investment opportunities. ICG is committed to innovating and pioneering new strategies where value can be delivered for investors.

JP Morgan Cazenove today reaffirms its overweight investment rating on Intermediate Capital Group PLC (LON:ICP) and raised its price target to 660p (from 620p).