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Contingencies
6 Months Ended
Jun. 30, 2014
Contingencies

15. Contingencies

During 2008 and 2009, two carried interest plans (one in each year) were established, for which a carried interest of 15% was allocated to ICG’s management participants in each plan. Carried interest will be paid in connection with a liquidity event or income receipt at any of the businesses in which the carried interest plans hold interests, subject to an aggregate specified hurdle threshold and holdback and clawback criteria. ICG has deployed approximately $78 million to date with respect to these plans, including approximately $23.5 million in 2013 and $18.3 million in 2014 (through the date of this Report). ICG’s ownership in Bolt is held in the 2009 carried interest plan and the activities over the past few years relative to the 2009 carried interest plan primarily relate to cash deployment from ICG to achieve its objectives of increasing its ownership in, and supporting the cash needs of, Bolt. Other than the stake in Bolt held by the 2009 carried interest plan, the assets held by the carried interest plans are immaterial to ICG. ICG does not expect a liquidity or income receipt at any of the relevant businesses to occur in the near future, and, accordingly, ICG has not recorded a liability with respect to these plans. Once a liquidity event or income receipt at any of the relevant businesses that would yield proceeds in excess of the calculated hurdle rate occurs, and a payment becomes probable and estimable, ICG would record the appropriate liability. Payments against that liability would occur thereafter subject to relevant holdbacks and clawbacks. As of June 30, 2014, the aggregate specified hurdle thresholds related to both carried interest plans had not been met.