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ICG Enterprise Trust PLC announced Friday the realisation of its largest portfolio company Froneri.

The investor in private companies, primarily in Europe and the US, said that cash proceeds of €41 million from the realisation were received.

ICGT said the realisation increased its liquidity to £223 million from £187 million at July 31.

Froneri is a manufacturer and distributor of ice cream products, such as Haagen-Dazs and Oreo, headquartered in Yorkshire, England.

The company was ICGT’s largest company exposure at July 31, accounting for 2.7% of ICGT’s portfolio on July 31.

ICGT initially invested in Froneri alongside Paris-headquartered private equity firm PAI Partners in 2013, before reinvesting in 2019.

Shares in ICGT rose 0.8% to 1,584.38 pence on Friday morning in London.