Late last week, CM Equity Partners distributed 1.4 million shares of ICF International to its limited partners on a pro-rata basis to provide them with a bit of liquidity. The distribution represented about 10% of the company, reducing CM Equity's ownership to 39%. The firm's limited partners include Massachusetts Mutual Life Insurance Co. and American Family Insurance Group. ICF was acquired by CM Equity Partners in 1999 through an $80 million carve-out from ICF Kaiser.