Bahrain’s Investcorp aims for 10 investments in current fiscal year

Bahrain-based Investcorp is aiming to make 10 investments across its private equity and real estate businesses in the current financial year, co-chief executive Rishi Kapoor said on a media call on Wednesday.

The investments will help the company achieve its goal of raising its assets under management to $25bn in the next three years or so, Kapoor said.

Investcorp’s assets under management doubled to $21.3bn after its acquisition in March of 3i’s debt management business, rebranded Investcorp Credit Management.

Earlier, the company reported a 116 per cent rise in its second-half net profit to $84.6m, and a 34 per cent increase in profits to $120.3m for the full financial year ended June 30.

A solid performance from core operations, including the newly acquired credit management business, helped to boost the company’s operating income, it said.

Founded in 1982, Investcorp is one of the oldest Middle Eastern private equity investors. It has made more than 170 corporate investments in the United States, Europe and the Middle East and North Africa and Turkey.

The company is now aiming to grow its presence in Asia as part of a strategy to diversify its investor base, business areas and asset classes.

Its new office in Singapore, up and running since April, will help to build the company’s client coverage in Asia, aimed at institutional investors in Japan, South Korea, Singapore and Thailand, China and Hong Kong, said Kapoor.

The company raised $4.1bn from clients in the Gulf and institutional investors in the US, Europe and Asia during the last financial year.

In the longer-term, Investcorp might consider direct investments in Asia, Kapoor said.