Investcorp announces $1bn GCC fund along with China’s CIC

Investcorp, a global alternative investment firm and China Investment Corporation (CIC), among the world’s largest sovereign wealth funds, have teamed up to establish a $1bn platform aimed at investing in high-growth enterprises across the Gulf Cooperation Council (GCC) countries and China.

The newly launched platform, named “Investcorp Golden Horizon,” sets its sights on companies with significant growth potential, particularly in sectors like consumer goods, healthcare, logistics, and business services.

Mohammed Alardhi, Investcorp’s executive chairman, expressed confidence in the firm’s standing in the GCC and emphasised the importance of the partnership with CIC.

He said, “This commitment by CIC, one of the world’s largest sovereign wealth funds, is a testament to Investcorp’s unparalleled franchise in the GCC and reinforces the trust placed in the firm’s global platform and teams. We are looking forward to building on this relationship and growing our partnership in the future.”

Investcorp’s GCC focus

This initiative, announced at Investcorp’s China-GCC Investment and Business Cooperation Summit in Riyadh, aims to attract institutional and private investors from the GCC, along with CIC.

Today we launched our new #Investcorp Golden Horizon Platform with China Investment Corporation at our China-GCC Investment and Business Cooperation Summit in #Riyadh. The $1bn Platform will invest in high-growth companies across the #GCC and #China.

Read more:… pic.twitter.com/fcITIZNr4Y

— Investcorp (@Investcorp) April 24, 2024

Investcorp’s Saudi Pre-IPO Growth Fund, a component of the platform, has already disclosed three investments in the GCC.

The commitment from CIC underscores the growing allure of the GCC region to institutional investors due to its stable regulatory environment, pro-business policies, and initiatives for economic diversification and strategic privatisation.

Dr Bin Qi, executive vice president and deputy CIO of CIC, highlighted their active investment endeavors worldwide and the significance of collaborating with Investcorp to enhance financial and industrial ties between China and the GCC.

He said, “As one of the world’s largest sovereign wealth funds, CIC has been actively investing in both developed and emerging economies. During the past couple of years, we have built several bilateral funds with leading financial institutions to facilitate industrial cooperation between China and major economies in the world.

“Currently we are working closely with Investcorp to build a similar bilateral fund to strengthen financial and industrial ties between China and GCC countries,” Qi added.

The launch of the platform signifies the beginning of what both parties anticipate to be a mutually beneficial relationship, with a commitment to driving positive impacts on businesses in the regions involved.

Earlier this year, Investcorp announced plans to list at least one of its portfolio companies in the GCC region in 2024.

The alternative investment firm, with around $50bn in assets under management and known for taking luxury brands public, listed Investcorp Capital on the Abu Dhabi exchange last year, defying a depressed market for initial public offerings to price at the top end of an upwardly revised range.

Read: Bahrain’s Investcorp plans 2024 listing of GCC portfolio company