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    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

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        <entityName>ICG ALTERNATIVE CREDIT (CAYMAN) LP</entityName>
        <issuerAddress>
            <street1>MAPLES CORPORATE SERVICES LIMITED</street1>
            <street2>UGLAND HOUSE</street2>
            <city>GRAND CAYMAN</city>
            <stateOrCountry>E9</stateOrCountry>
            <stateOrCountryDescription>CAYMAN ISLANDS</stateOrCountryDescription>
            <zipCode>KY1-1104</zipCode>
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        <jurisdictionOfInc>CAYMAN ISLANDS</jurisdictionOfInc>
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                <lastName>ICG Alternative Credit (Cayman) GP Limited</lastName>
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                <street1>c/o MAPLES CORPORATE SERVICES LIMITED</street1>
                <street2>Ugland House</street2>
                <city>Grand Cayman</city>
                <stateOrCountry>E9</stateOrCountry>
                <stateOrCountryDescription>CAYMAN ISLANDS</stateOrCountryDescription>
                <zipCode>KY1-1104</zipCode>
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            <relatedPersonName>
                <firstName>N/A</firstName>
                <lastName>ICG Alternative Credit, LLC</lastName>
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                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                <zipCode>10172</zipCode>
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                <stateOrCountry>X0</stateOrCountry>
                <stateOrCountryDescription>UNITED KINGDOM</stateOrCountryDescription>
                <zipCode>EC4M 7JW</zipCode>
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            <relatedPersonName>
                <firstName>Jesper</firstName>
                <lastName>Poulsen</lastName>
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                <street1>Female Founders House</street1>
                <street2>Bredgade 45B, 3., Kontor</street2>
                <city>Copenhagen</city>
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                <stateOrCountryDescription>DENMARK</stateOrCountryDescription>
                <zipCode>1260</zipCode>
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        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>David</firstName>
                <lastName>Qian</lastName>
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            <relatedPersonAddress>
                <street1>Suites 3414 - 3417 Jardine House</street1>
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                <stateOrCountryDescription>HONG KONG</stateOrCountryDescription>
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        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Rafael</firstName>
                <lastName>Rizo-Patron</lastName>
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                <city>New York</city>
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                <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                <zipCode>10172</zipCode>
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            <relationshipClarification>Authorized Officer</relationshipClarification>
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        <relatedPersonInfo>
            <relatedPersonName>
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                <lastName>Martin-Jimenez</lastName>
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                <city>New York</city>
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                <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                <zipCode>10172</zipCode>
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            <relationshipClarification>Director of the General Partner</relationshipClarification>
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        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Martin</firstName>
                <lastName>Steyn</lastName>
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            <relatedPersonAddress>
                <street1>ICG Alternative Credit (Cayman) GP Ltd</street1>
                <street2>P.O. Box 309, Ugland House</street2>
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                <stateOrCountry>E9</stateOrCountry>
                <stateOrCountryDescription>CAYMAN ISLANDS</stateOrCountryDescription>
                <zipCode>KY1-1104</zipCode>
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            <relatedPersonName>
                <firstName>Letitita</firstName>
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            <relatedPersonAddress>
                <street1>ICG Alternative Credit (Cayman) GP Ltd</street1>
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                <stateOrCountryDescription>CAYMAN ISLANDS</stateOrCountryDescription>
                <zipCode>KY1-1104</zipCode>
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        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Brian</firstName>
                <lastName>Marshall</lastName>
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            <relationshipClarification></relationshipClarification>
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        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Calum</firstName>
                <lastName>Ogram</lastName>
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                <city>London</city>
                <stateOrCountry>X0</stateOrCountry>
                <stateOrCountryDescription>UNITED KINGDOM</stateOrCountryDescription>
                <zipCode>EC4M 7JW</zipCode>
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            <relatedPersonRelationshipList>
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            <relationshipClarification>Authorized Officer</relationshipClarification>
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        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Greg</firstName>
                <lastName>O'Connor</lastName>
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                <stateOrCountry>X0</stateOrCountry>
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                <zipCode>EC4M 7JW</zipCode>
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            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Global Head of Compliance for ICG Alternative Credit LLC</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Hedge Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <aggregateNetAssetValueRange>Decline to Disclose</aggregateNetAssetValueRange>
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        <federalExemptionsExclusions>
            <item>06b</item>
            <item>3C</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0000898432-25-000227</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2015-03-02</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
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        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>250000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>1187818838</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse>Minimum investment amount may be waived</clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>56</totalNumberAlreadyInvested>
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        <salesCommissionsFindersFees>
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                <dollarAmount>0</dollarAmount>
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            <clarificationOfResponse></clarificationOfResponse>
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        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>ICG ALTERNATIVE CREDIT (CAYMAN) LP</issuerName>
                <signatureName>/s/ Adrian Martin Jimenez</signatureName>
                <nameOfSigner>Adrian Martin Jimenez</nameOfSigner>
                <signatureTitle>Director of GP</signatureTitle>
                <signatureDate>2026-04-23</signatureDate>
            </signature>
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</edgarSubmission>
