Intermediate Capital says CEO Evain to retire

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, to replace Evain as CEO and CIO, the firm added.

“After 23 years at ICG, 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)