The bulk of Investcorp’s investments since its launch in 1982 have been in the United States, Europe, the Middle East and North Africa.
The Ministers of Finance of the Kingdom of Saudi Arabia, the United Arab Emirates, the State of Kuwait…
572 Views | the publication reaches you by | Bahrain News“The two big markets from an investment perspective in Asia are India and China.”
In an effort to help build the company’s client coverage in Asia, Investcorp opened an office in Singapore in April last year in part to help it raise more funds from institutional investors. It recently attracted its first Asian participation in its real estate offering.
Investcorp has invested in India and Asia through its portfolio companies, but is now scouting both markets for potential direct investments, said Kapoor, adding that Saudi Arabia was one of the other markets it was assessing.
The company reported on Wednesday a 4 percent rise in net profit for the year ended June 30, 2018 to $125 million, driven by growth across all its business lines.
Kapoor reiterated Investcorp’s plan to more than double its assets under management to $50 billion within five to seven years. It had $22.6 billion in assets under management at the end of June.
Half of the growth in assets would come from organic expansion, with the other half from inorganic growth, such as acquisitions, he said.
The Middle East’s private equity industry has been shaken this year by troubles surrounding Dubai-based Abraaj. It filed for provisional liquidation in the Cayman Islands in June after months of turmoil related to a row with investors over the use of their money in a $1 billion health care fund.
Asked if Investcorp was interested in acquisitions surrounding Abraaj, Kapoor said:
“To the extent there was something, that would be premature for me to discuss. Generally speaking the scope of their activities are outside our core markets.”
In the last year Investcorp had record levels of fundraising, providing evidence that the fallout from Abraaj had had no secondary impact on the firm, he said.
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The Arab states of the Persian Gulf are the seven Arab states which border the Persian Gulf, namely Bahrain, Iraq, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE).This excludes the non-Arab state of Iran. All of these nations except Iraq are part of the Gulf Cooperation Council (GCC).
