Bahrain-based alternative asset manager Investcorp is considering launching a second private equity fund focused on the Mena region.
The potential launch follows Investcorp’s deal with US asset manager HarbourVest to provide liquidity for Investcorp’s existing $866 million Mena-focused private equity fund plus an additional $70 million for follow-ons and a further $60 million for new investments.
The deal with HarbourVest is still subject to regulatory approval, so the new fund would has to wait for the green light. According to head of private equity,Walid Majdalani, as reported by UAE-based newspaper The National, Investcorp will also provide some of its own capital for the new PE fund.
The possible fund launch would mirror the $1 billion European PE fund
that Investcorp founded in 2019 after partnering with UK firm Coller Capital.
Investcorp’s first Mena-focused PE fund was launched in 2007 and was fully deployed by 2013 after raising around $900 million. Since then it has made 16 individual PE investments, securing five exits with a sixth expected to be announced shortly.
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