Investcorp launches $1bn fund to invest in GCC and China – The National

Investcorp launches $1bn fund to invest in GCC and China – The National

Investcorp, an alternative asset manager that counts Mubadala Investment Company as its biggest shareholder, has teamed up with China’s sovereign wealth fund to launch a $1 billion fund that will invest in high-growth companies in Saudi Arabia, other GCC countries and China as it continues to expand its global investment portfolio.The Investcorp Golden Horizon platform will be anchored by institutional and private investors from the GCC, as well as the China Investment Corporation, Investcorp said in a statement on Wednesday.Target companies are expected to have high growth potential in sectors such as consumer, health care, logistics and business services, it added.“This commitment by CIC is a testament to Investcorp’s franchise in the GCC,” Mohammed Alardhi, executive chairman of Investcorp, said.“We are looking forward to growing our partnership in the future.”Established more than four decades ago, Investcorp has grown to become one of the leading alternative asset management companies in the region.The company went on an acquisition spree during the Covid-19 pandemic to capitalise on lower asset valuations and continued its aggressive portfolio expansion in 2022.With $52 billion in assets under management, Investcorp is an active investor in mid-market companies across consumption-linked sectors.It aims to double its assets under management to