Standard Chartered Bank and Intermediate Capital Group (ICG) have successfully closed an initial €1.45 billion ESG-linked subscription facility for ICG Europe Fund VIII. The lending group comprises Standard Chartered Bank, BNP Paribas, ANZ Banking Group Limited, ING Bank, and Royal Bank of Canada.

The facility will serve as a key source of liquidity for the Fund, which is dedicated to investing in mid to upper middle market European businesses.

ICG recognises that environmental, social and governance issues can be a key driver of investment value and that investors have a vital and unique role to play in supporting private companies to reduce their emissions and drive the transition to a net zero economy. These values are reflected in the facility structure which integrates ICG’s ESG and climate ambitions to deliver sustainable outcomes.

Clare Francis, Regional Head, Client Coverage, Europe, CCIB, at Standard Chartered, adds: “At Standard Chartered we pride ourselves on being able to support our Private Equity clients as they drive their financing strategies in a sustainable way. This sector has a big role to play in achieving the sustainable development goals. Supporting sustainable economic growth is key to our core value of here for good.”

Read more/Source: Private Equity Wire