Investcorp Holding Company, the largest alternative investment manager in the Middle East, seeks to double its infrastructure assets under management, reaching $10 billion within 5 years from now.
As part of its expansion plan, Bahrain-based Investcorp is also looking to raise $1.5 billion in financing for global infrastructure projects, co-CEO Hazem Bin Jassim said in an interview on Monday on the sidelines of the World Economic Forum in Davos, Switzerland.
Bin Jassim added: We see tremendous opportunities to grow our business in the infrastructure sector, especially in the field of transportation and logistics services, and our investors are looking forward to more exposure to this sector.
The Middle Eastern asset manager recently bought half of the infrastructure business of Corsair Capital, which owns airport management group Vantage Airport Group.
Bin Jassim noted that Investcorp has concluded another deal to invest in the equity of the development of Terminal 6 at John F. Kennedy International Airport in New York, a project led by Vantage.
Investcorp's investment in private credit
The company is also looking to invest $500 million to $1 billion in the GCC every year across all its asset classes such as private equity, infrastructure and real estate, according to the CEO. The company, known for its support of Tiffany & Co. and Gucci, is seeking to list at least one Gulf company this year, after having already listed four companies in the past two years.
Bin Jassim continued: We have been investing in the Gulf region for several years, but the macroeconomic trends and stability that we see in the region make it a more important investment destination for us. International investors in places like China are more keen than ever about opportunities in the region. We believe that we can provide them with great economic opportunities.”
Investcorp manages about $53 billion overall. The company also plans to expand its business in the private credit sector, and is also seeking to raise about one billion dollars to invest in Europe and the United States, according to Bin Jassim.
Support alternative assets
Bin Jassim said: Private credit continues to generate strong returns for investors, and we are looking for other ways to further grow our business. He added that the alternative asset manager continues to search for opportunities in China, India, Japan and Southeast Asia, and is one of the few companies that conclude deals to acquire controlling stakes in medium-sized companies in these markets.
In a related context, other major investment companies are working to enhance their investments in infrastructure. BlackRock, the world's largest money manager, said last week that it would acquire Nigerian businessman Adebayo Ogunlesi's Global Infrastructure Partners for about $12.5 billion as it seeks to make long-term bets on energy, transportation and digital infrastructure.
It is worth noting that Investcorp's list of supporters includes some of the richest members of royal families and business tycoons in the Middle East. Last November, an investment vehicle launched by the company raised $451 million in its initial public offering in Abu Dhabi.
