Investcorp doubled its assets thanks to 3i takeover

Mergers_and_aquisitionBahrain-based alternative asset manager Investcorp has doubled its assets under management through acquisitions. The firm reported $21.3 billion under management in its results for the year ending June 30. The dramatic growth came from the addition of $10.8 billion of assets when it bought the debt management business of 3i, reputed to be the UK's oldest private equity firm. The acquisition also helped the firm double its distributions to investors to $3.4 billion for the year. Separately, the firm collected $4 billion in fundraising during the period. “The firm is making great headway executing a number of initiatives that are designed to diversify the firm’s client base, product offering, geographical reach and, ultimately, better serve the needs of our clients wherever they are in the world,” said Mohammed Alardhi, executive chairman. Founded in 1982, Investcorp says it had made more than 170 corporate investments in the US, Europe and MENA region. It has also made 450 commercial and residential property investments in the US. ©2017 funds global mena

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