For the six months ending December 31 2019, Investcorp’s net income, excluding the fair value change of legacy investments, reached $59m, two per cent higher than $58m for the six months ending December 31 2018, a statement said.
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Total comprehensive income for H1 FY20 totaled $46m, dipping 18 per cent compared to $56m in H1 FY19. Meanwhile, the firm’s gross operating income (excluding the fair value change of legacy investments) scored $197m in H1 FY20 compared to $199m in H1 FY19.
The firm’s assets under management (AUM) increased by $3bn to total $31.1 billion during the period, the statement said.
“The increase in AUM during the period was largely attributable to organic initiatives, demonstrating strong global demand for our offerings with investors seeking increased exposure to alternative assets,” said Mohammed Alardhi, executive chairman, Investcorp.
“The successful globalisation and institutionalisation of our distribution platform is enhancing the resiliency of our business.”
In 2019, Investcorp acquired 11 new US multifamily properties for a combined price of $370m, making it the company’s largest US real estate portfolio acquisition in the past decade.
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