Investcorp

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Template:Short description Template:Use dmy dates Template:Infobox company Investcorp is a global manager of alternative investment products, for private and institutional clients. Founded in Bahrain in 1982, and operating under the leadership of Executive Chairman Mohammad Alardhi since 2015, the firm has offices in Bahrain, United States, United Kingdom, Saudi Arabia, Qatar, United Arab Emirates, India, China, Japan, and Singapore. Investcorp's principal client base is in the six countries of the Gulf Cooperation Council, but it also has a growing base of institutional clients in North America, Europe, and Asia.

The group's biggest external shareholder is Mubadala Investment Company, a $229 billion Abu Dhabi sovereign wealth fund, which has a stake of 20 percent.<ref name="Bloomberg.com">Template:Cite news</ref> The company's main activities include private equity, real assets, and credit management,<ref>Template:Cite web</ref> and has $59.7B<ref name="thenationalnews.com">https://www.thenationalnews.com/business/markets/2025/07/28/investcorp-abu-dhabi-bahrain-finance/</ref> worth of assets under management, as of July 2025.

History

The company was co-founded in 1982 by Nemir Kirdar,<ref name=":1">Template:Cite webTemplate:Dead link</ref> Elias Hallak, Savio Tung, Mike Merritt, and Cem Cesmig and acquired Tiffany & Co in 1984, floating in 1987.<ref name=":0">Template:Cite web</ref><ref name=":12">Template:Cite web</ref> In 1988, Maurizio Gucci sold almost 47.8% of Gucci to Investcorp,<ref>Template:Cite web</ref> and withheld the other 50% until 1993.<ref>Template:Cite news</ref>

The company diversified in 1996 into Absolute Return Investments.<ref>Template:Cite news</ref> Kirdar stepped down as CEO and executive chairman in 2015.<ref>Template:Cite news</ref><ref name=":1" /> With Kirdar resigning, Mohammad Alardhi became the Executive Chairman of the company.<ref name="Hill">Template:Cite news</ref> The changes also involved an update to the business model, which is now focused on raising institutional capital from global markets, and diversifying strategies further.<ref>Template:Cite news</ref> In 2024, Investcorp announced changes to its leadership team, with Alardhi taking on further responsibilities previously held by the co-CEO as Executive Chairman, and Rishi Kapoor being appointed Vice Chairman and Chief Investment Officer.<ref>Template:Cite web</ref> This restructure of the leadership team also included reorganising investment activities under three business verticals; Private Equity, led by Daniel Lopez Cruz,<ref>Template:Cite news</ref> Real Assets, led by Herb Myers, and Credit, led by Neil Rickard in Europe and Corey Geis in the US.<ref>https://www.bloomberg.com/news/articles/2025-01-15/two-top-investcorp-credit-trading-executives-set-to-depart</ref> Investcorp's Private Wealth business and distributions are led by Yusef Al Yusef.<ref>https://www.gdnonline.com/Details/910229</ref>

Investcorp made several acquisitions between 2016 and 2019, pushing into China with investments into tech and the food sector.<ref>Template:Cite web</ref><ref>Template:Cite web</ref> In 2019, the company also pushed into the US market with the acquisition of Mercury Capital,<ref>Template:Cite web</ref> which ceased operations in late 2024 "due to the very challenging capital raising environment".<ref>Template:Cite web</ref> Investcorp's portfolio company, Moneybookers, ended its relationship with WikiLeaks in August 2010.<ref>WikiLeaks says funding has been blocked after government blacklisting | Media | The Guardian</ref>

The company was regulated in Bahrain as a wholesale bank until 2019, when it voluntarily surrendered its wholesale banking license.<ref>Template:Cite web</ref> It remained listed on the Bahrain Bourse (BSE) for four decades until 2021, when it delisted itself as a result of low trading volumes.<ref name="Bloomberg.com"/>

In 2023, Investcorp acquired a 50% stake in the infrastructure business of the firm Corsair, creating a new joint entity, Investcorp Corsair. The new entity focuses on a scalable investment strategy in transportation, logistics and broader infrastructure.<ref>Template:Cite news</ref>

In 2024, the firm launched a $1 billion fund to invest further in China, and the GCC. The company has since announced further investment in the US as well, joining a $4.2 billion project to redevelop JFK international airport, due to be completed by 2025.<ref>Template:Cite web</ref><ref>Template:Cite web</ref>

In the same year, it also announced it had partnered with specialist Securitize to make its latest GP-stakes fund available for individual investors on a public blockchain. Additionally, in early 2025 the firm launched it’s ‘Investcorp Wealth’ app, expanding its offerings towards individual investors.<ref>Template:Cite web</ref><ref>Template:Cite web</ref>

Investment areas

Private equity

Investcorp's traditional activity is private equity. This includes mid-size companies in North America, Western Europe and MENA including Turkey, as well as technology lower mid-cap investment,<ref>Template:Cite web</ref> through Investcorp Technology Partners.

In 2023, Investcorp closed its North American Private Equity Fund I at over $1.2 billion in capital commitments, focusing on control buy-out investments in middle market services businesses in North America.<ref>https://www.buyoutsinsider.com/investcorps-north-american-fund-under-new-leadership-nears-1bn-on-first-close/</ref>

In 2024, the firm’s Investcorp Technology Partners V (“ITP V”) fund closed at $570 million in total commitments, investing in companies globally within software, data/analytics, cybersecurity and fintech.<ref>https://realdeals.eu.com/article/investcorp-closes-tech-fund-on-570m</ref> The first exit from the ITP V fund was announced in July 2025, with the launch of a single-asset continuation fund for the Italian cybersecurity firm HWG Sababa.<ref>http://pe-insights.com/investcorp-backs-hwg-sababa-with-e240m-fund-as-cybersecurity-growth-accelerates/</ref>

The past and present portfolio includes over 175 investments.<ref>Template:Cite web</ref> Selected past investments include:

Real Assets

The real estate division,<ref>Template:Cite web</ref> which expanded in 2024 to include both Real Estate and Infrastructure,<ref name="ReferenceA"/> is based in New York and London. This line of business sources and performs due diligence, and arranges financing and the acquisition of US and European properties and US commercial mortgage debt positions. The investment in these properties or loans is typically aggregated into a series of multi-investment portfolios for placement to clients. Since 1996, Investcorp has acquired over 1,400 properties for a total value of approximately $26billion.<ref name="pe-insights.com">https://pe-insights.com/investcorp-expands-u-s-industrial-footprint-with-335m-acquisitions-in-minneapolis-and-baltimore/</ref> Investcorp is among the top 5 largest cross-border buyers of US real estate, according to Real Capital Analytics (RCA).<ref name="pe-insights.com"/>

In 2025, Investcorp was listed as one of the world's largest private real estate companies by PERE,<ref>https://www.perenews.com/pere-100/</ref> and one of the world's largest private equity firms by Private Equity International.<ref>https://www.privateequityinternational.com/pei-300/</ref> It also saw Starwood's John McCarthy join the team as Advisory Director, to help guide the firms' Real Assets initiatives.<ref>https://www.perenews.com/investcorp-taps-former-starwood-reit-chief-to-grow-us-europe-real-estate-platform/</ref>

Recent investments include:

Absolute Return Investments

Established in 1996, Investcorp's Absolute Return Investments business grew to an approximate value of $3.5 billion capital under management,<ref>Template:Cite web</ref> out of which approximately $0.2 billion is reserved for proprietary investments.<ref>Template:Cite book</ref> The Absolute Return Investments business provides institutional investors with access to its emerging manager program, investing with and seeding early-stage managers who, according to Investcorp research, outperform larger hedge funds on a risk-adjusted basis.<ref>Template:Cite news</ref> In 2020, Investcorp merged its Absolute Return Investments business with Tages Group, a European alternative asset management firm, creating a 50/50 joint venture.<ref>Template:Cite web</ref>

Credit management

Investcorp Credit Management was formed after the acquisition and integration of the debt management business of 3i (“3iDM”) in 2017.<ref>https://www.investcorp.com/investcorp-establishes-credit-management-offering-following-integration-of-3is-debt-management-business/</ref> Investcorp Credit Management has assets under management of over $22 billion.<ref>Template:Cite web</ref> Based in London, New York, and Singapore, they manage funds that invest primarily in senior secured corporate debt issued by mid and large-cap corporates in Western Europe and the US.

Investcorp Insurance

In October 2021, the company launched its Investcorp Insurance Solutions platform which provides investment management services to meet the unique investment needs of insurers.<ref>Template:Cite web</ref>

Recent Exits

In April 2025, Investcorp announced it had sold its US industrial real estate portfolio, with a 40% gain over its initial purchase price.<ref>https://www.agbi.com/industry/2025/04/investcorp-earns-40-profit-on-sale-of-us-industrial-assets/</ref> Similarly, in May 2025, Investcorp announced it had exited 12 residential multiple-occupancy real estate assets across five states in the US. The exit was achieved at a premium, with an aggregate price of $550 million.<ref>https://www.forbesmiddleeast.com/industry/business/investcorp-capital-completes-%24550m-multifamily-asset-exit-at-premium</ref>

In May 2025, Investcorp completed its exit from Indian value-fashion retailer Citykart, selling its entire stake to TPG NewQuest and A91 Partners.<ref>Template:Cite web</ref>

In April 2025, Investcorp completed the sale of Resa Power to Kohlberg. Resa Power, a power systems provider and electrical testing solutions provider that has seen its revenue increase fourfold since its acquisition in 2021. This exit was the first from Investcorp’s $1.2 billion North America Private Equity Fund I.<ref>Template:Cite web</ref>

In February 2025, Investcorp agreed to sell its majority stake in Contentserv, an AI-powered Product Information Management and Product Experience management provider.<ref>https://www.pehub.com/investcorp-to-sell-majority-stake-in-contentserv/</ref>

In May 2024, Investcorp announced a partial exit from its stake in NephroPlus, a dialysis provider in Asia. This came as part of a funding round and investment from private equity firm Quadria Capital into NephroPlus.<ref>https://www.zawya.com/en/wealth/alternative-investments/bahrains-investcorp-partially-exits-indian-dialysis-centre-co-nephroplus-jqe1ngw5</ref>

References

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