Investcorp capital starts gauging interest for $600 million Abu Dhabi IPO

Investcorp capital starts gauging interest for $600 million Abu Dhabi IPO

Dubai: Investcorp Holdings, the Middle East’s biggest alternative asset manager, is planning to start meeting investors for the $600 million initial public offering of an investment vehicle in Abu Dhabi, according to people familiar with the matter. The Bahrain-based investor is looking to start the meetings as soon as next week, the people said, asking not to be identified as the information isn’t public. The IPO of the vehicle - Investcorp Capital - could come as soon as September, they said. Investcorp is working with HSBC Holdings on the potential offering, the people said. Goldman Sachs Group, First Abu Dhabi Bank, Emirates NBD, and Moelis & Co. have also been working on the deal, Bloomberg News reported in March. Investcorp Capital will contain stakes in assets across private equity, real estate, credit and corporate investments, the people said. Details such as size and timing are still preliminary and subject to change, they said. Representatives for Investcorp and HSBC declined to comment. The deal would be the first of its kind in the Middle East, which has been in the midst of an IPO boom since late 2021. After a blockbuster 2022, listing activity has slowed this year on lower oil