Investcorp mulls major India ramp up; eyes $5bln investment

Investcorp mulls major India ramp up; eyes $5bln investment

Investcorp, a leading global alternative investment firm with headquarters in Bahrain, is planning a major ramp up of its investments in India, which it aims to take it to $5 billion over the next five years, up from the current $600 million, reported Bloomberg, citing its top official.

This is around 1.5% of the $42.7 billion in assets managed by the group, said its Executive Chairman Mohammed Alardhi, as the alternative asset manager joins global firms eyeing opportunities in the world’s second most-populous country.

The investor adds to firms including Ontario Teachers’ Pension Plan Board and Apollo Global Management Inc. that are seeking to extend footholds in India.

"Investcorp’s plans for the country include a new credit strategy, stronger emphasis on infrastructure deals and finding a target for its India-focused blank-check company, Investcorp India Acquisition Corp, which raised $259 million in a US initial public offering in May," Alardhi told Bloomberg News in an interview in Mumbai.

Currently, the Bahrain-based group is raising another India-focused fund, targeting $500 million, which is more than double its predecessor which wrapped up with $142 million in 2019, according to people familiar with the fundraising efforts.

Given its India ambitions, Investcorp’s latest fund could be even larger than that,