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November 7, 2022

Investcorp looking to increase investment in India to $5bn

Alternative investment company Investcorp is set to raise the size of its assets in India to $5bn in the next five years, Bloomberg News has reported quoting the firm’s executive chairman Mohammed Alardhi.

The Bahrain-based firm currently manages $600m, which represents 1.5% of its $42.7bn assets, in India.

In an interview with the agency, Alardhi told that several companies, such as Ontario Teachers’ Pension Plan Board and Apollo Global Management, are planning to enhance their presence in the second largest country in terms of population.

He further noted that Investcorp expects to launch a new credit strategy in India.

The company also aims to put more focus on infrastructure deals and set a target for Investcorp India Acquisition, a blank-check firm that focuses India, as part of the planned expansion.

In May this year, Investcorp India Acquisition raised $259m through a US initial public offering.

According to Investcorp co-CEO Rishi Kapoor, India has become ‘more homogenous’ like US to conduct business after the country saw changes in its regulatory requirements and digital sector.

Kapoor was quoted by Bloomberg as saying: “India’s investment ecosystem is now mature.”

He added: “The midmarket-focused firm has made investments in India across consumer, healthcare, wellness, and financial services, with an overlay of technology.”

Investcorp, shares of which is owned by Abu Dhabi sovereign fund Mubadala Investment and others, started its business in India in 2019.

In addition, the firm is raising an additional India-focused fund with $500m target, which is over two times more than its former counterpart that closed with $142m in 2019, stated people who are privy to the development.

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