Khaleej Times

Investcorp eyes China, India

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The two big markets from an investment perspectiv­e in asia are India and China

Rishi Kapoor, Co-CEO, Investcorp

dubai — Bahrain-based private equity firm Investcorp expects to make its first direct investment­s in China and India within 12 to 18 months as it increasing­ly widens its investment focus to Asia, its co-chief executive said on Wednesday.

The bulk of Investcorp’s investment­s since its launch in 1982 have been in the United States, Europe, the Middle East and North Africa.

“Relative to the past, we are much more embedded in Asia both from an investor perspectiv­e and in terms of scouting for investment opportunit­ies,” Rishi Kapoor said on a media call after the release of the company’s earnings. “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 four per cent 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 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 healthcare fund.

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