Bahrain-based alternative manager Investcorp has announced a joint venture (JV) with Aberdeen Standard Investments (ASI) to invest in social and core infrastructure projects in the Gulf Cooperation Council (GCC).
The venture will focus on greenfield and brownfield sites in multiple sectors including healthcare, education, utilities, social housing, smart cities, roads and jails.
The GCC region is currently in the midst of an infrastructure drive as part of an effort to diversify economies away from a dependence on oil revenues. It has also become an increasingly attractive asset class for investors.
“Infrastructure is a unique and highly sought-after investment, especially in times of global economic uncertainty, because it is typically characterised by stable and predictable long-term cash flow,” said Investcorp chief executive Hazem Ben-Garcem.
“Moreover, there is a healthy pipeline of infrastructure projects and deals in the GCC, which means there is a potential to generate real value for those types of investment.”
Martin Gilbert, ASI co-chief executive added: “The partnership brings together ASI’s strong track record of over 20 years in concession and social infrastructure fund management with Investcorp’s excellent relationships and reputation in the Gulf as well as wider asset management expertise.”
The JV with ASI follows another collaboration that Investcorp announced in January, the launch of a $1 billion private equity portfolio with UK private equity firm Coller Capital.
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