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Intermediate Capital says CEO Evain to retire

Reuters - UK Focus

LONDON, March 23 (Reuters) - Fund manager Intermediate Capital Group's chief executive and chief investment officer Christophe Evain is to retire in July 2017, the firm said in a statement on Thursday.

The board has appointed Benoit Durteste, currently head of European investments at Intermediate Capital (Frankfurt: I2X2.F - news) , to replace Evain as CEO and CIO, the firm added.

"After 23 years at ICG (LSE: 138026.L - news) , my decision to retire has not been an easy one to make," Evain said in a statement, adding "I leave the Company in capable hands with Benoit and the rest of the management team."

ICG specialises in private debt, credit and equity and has 22.6 billion euros ($24.37 billion) in assets under management. ($1 = 0.9276 euros) (Reporting by Carolyn Cohn, editing by Maiya Keidan)