IC FUND II.




Selected by the Asset Management Division's Investment Teams with deep analysis and quantitative methods, and monitored by the Asset Management Division's Portfolio Team, IC Fund II represents a strategic approach to investing, aiming for high returns following a due diligence process.  diversified investment strategy, designed to seek a consistent return .

We apply a disciplined, criteria-driven approach to identify businesses with robust

fundamentals at attractive valuations.

IC Fund II 

Overview

21

COMPANIES

12%

TARGET IRR

~20%

AT-ENTRY EBITDA MARGIN

~9x

AT-ENTRY EV/EBITDA

Primary Industries

Industrial Product Manufacturing

Industrial Services

Consumer Product Manufacturing

Distribution

Business Services

Other esoteric industries

Criteria

Adjusted EBITDA margin: >10%

Appropriate leverage profile

Strong liquidity position

Low customer concentration

Consistent historical revenue growth

Traded on a major exchange

IC Fund II Holdings 

Winnebago Industries

Manufactures recreational vehicles used primarily in leisure and outdoor activities.

Inception date: 2022-Q1

Deckers Outdoor

Designs and distributes footwear and apparel for casual and athletic activities.

Inception date: 2022-Q2

Alamo Group

Manufactures agricultural and infrastructure maintenance equipment.

Inception date: 2022-Q3

Academy Sports and Outdoors

Provides national and private brands for outdoors, sports, and casual activities.

Inception date: 2023-Q1

Atkore

Manufactures electrical, safety, and infrastructure products used primarily for nonresidential construction.

Inception date: 2023-Q1

Cable One

Provides data, video, and voice services to residential and enterprise users in non-metropolitan markets.

Inception date: 2023-Q1

Korn Ferry

Provides organizational consulting services across 52 countries.

Inception date: 2023-Q1

Universal Display Corporation

Manufactures OLED materials for commercial display panels and other lighting solutions.

Inception date: 2023-Q1

Mueller Industries

Manufactures copper, brass, aluminum, & plastic products used primarily for building construction.

Inception date: 2023-Q1

Agilent Technologies

Provides solutions that include instrument, software, & services for entire laboratory workflow.

Inception date: 2023-Q2

SEI Investments Company

Provides technology and investment solutions for investment processing, operations, and asset management.

Inception date: 2023-Q2

Clean Harbors

Provides toxic waste management, cleaning, & maintenance services, as well as re-refined oil products.

Inception date: 2023-Q2

Brady

Manufactures safety products, precision tools, catering to diverse industrial and commercial needs.

Inception date: 2023-Q4

Cal-Maine Foods

Distributes fresh shell eggs, egg products, and nutritional supplements for consumers and food industry partners.

Inception date: 2023-Q4

Insteel Industries

Manufactures steel wire reinforcing products for concrete construction applications.

Inception date: 2023-Q4

Owens Corning

Provides building materials, insulation products, and composite materials for industrial applications.

Inception date: 2023-Q4

ResMed

Provides devices, softwares, and services for respiratory care.

Inception date: 2023-Q4

Paychex

Provides integrated human capital management solutions for payroll, benefits, human resources, and insurance services.

Inception date: 2023-Q4

Allison Transmission

Manufactures vehicle propulsion solutions, fully automatic transmissions, and electrified propulsion systems.

Inception date: 2024-Q1

Crocs

Manufactures innovative casual footwear for men, women, and children.

Inception date: 2024-Q1

Gogo

Provides broadband connectivity services for the business aviation market with customizable suite of smart cabin systems.

Inception date: 2024-Q1