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ICG builds secondaries team with two hires

Justin McDougall (pictured) and Panos Tegos have joined the firm’s New York and London offices respectively.

ICG Strategic Secondaries has brought on its first two hires since adding the strategy last year, Secondaries Investor has learned.

Justin McDougall
Justin McDougall

Justin McDougall has joined the firm from Morgan Stanley Alternative Investment Partners, where he spent five years as a senior associate focused on secondaries. He has also worked as an analyst at DuPont Capital, according to his LinkedIn profile. He began working from ICG’s New York office in March.

Panos Tegos joined ICG’s London office last month from Goldman Sachs, where he spent five years as an investment banker in the leveraged finance group, according to LinkedIn.

Last November ICG launched its secondaries platform by acquiring NewGlobe Partners, a secondaries advisory firm that spun out of Vision Capital. NewGlobe’s co-founders Christophe Brown and Andrew Hawkins were appointed directors at ICG and former NewGlobe principal Ricardo Lombardi joined the team as an associate director, according to the firm’s website.

ICG Strategic Secondaries focuses on leading private equity fund recapitalisations and complex restructuring deals.

Last year ICG closed its first-ever secondaries deal, acquiring a substantial portfolio of private equity assets from Diamond Castle IV. As part of the deal, which was co-led by NewGlobe, a new $860 million fund was created to be managed by Diamond Castle. ICG underwrote $300 million of the new fund with Goldman Sachs Asset Management also investing an undisclosed amount.