Investcorp, the Bahraini investment firm that counts Mubadala Investment Company as its biggest shareholder, said it made a minority investment in Swiss-regulated Banque Paris Bertrand Sturdza for an undisclosed sum as it expands its portfolio in Europe.
The bank, which will be renamed Banque Paris Bertrand, had 5.3 billion swiss francs (Dh20bn) in assets under management at the end of June. The independent bank, which is based in Geneva and Luxembourg, offers services to over 400 high-net-worth individuals, family offices and institutional clients, mainly from Switzerland and Europe.
“Investcorp, which benefits from 35 years of direct investments in Europe and the US, has developed a specialist expertise in private equity, real estate and alternative investments, which perfectly complements the offering of PB [Paris Bertrand],” Mohammed Alardhi, executive chairman of Investcorp said in a statement on Wednesday. “Investcorp brings unique access to one of the most attractive investor bases for private and institutional investors. The synergies between the two institutions will therefore be significant, and should be mutually beneficial for both parties.”
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Read more:
[ Bahrain's Investcorp buys German technology company Softgarden ]
[ Bahrain's Investcorp reports 4% rise in net income for financial year 2018 ]
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Investcorp, in which Mubadala has a 20 per cent stake, is on an acquisition spree to nearly double its AUM to reach $50bn in the medium-term from $22.6bn at the end of June. Last year, the company acquired a $12bn AUM credit management business now known as Investcorp Credit Management.
Since its inception in 1982, Investcorp has made over 170 corporate investments in the United States, Europe and the broader Middle East and North Africa region, including Turkey. The company has invested across a range of sectors including more than 450 commercial and residential real estate investments in the US, with transaction values exceeding $55bn.
“The investment from Investcorp will provide PB with additional support to advance its growth strategy, enabling the bank to further broaden and enhance its commercial offering to clients,” Investcorp said. “Equally, the investment is in line with Investcorp’s strategy to selectively partner with companies that complement and grow both its existing client offering and international footprint. It brings the additional capability of offering Investcorp’s clients access to PB and its independent investment advice.”
The five pillars of Islam
COMPANY PROFILE
Company name: Revibe
Started: 2022
Founders: Hamza Iraqui and Abdessamad Ben Zakour
Based: UAE
Industry: Refurbished electronics
Funds raised so far: $10m
Investors: Flat6Labs, Resonance and various others
COMPANY PROFILE
Company name: Almouneer
Started: 2017
Founders: Dr Noha Khater and Rania Kadry
Based: Egypt
Number of staff: 120
Investment: Bootstrapped, with support from Insead and Egyptian government, seed round of
$3.6 million led by Global Ventures
The specs
Engine: 6-cylinder, 4.8-litre
Transmission: 5-speed automatic and manual
Power: 280 brake horsepower
Torque: 451Nm
Price: from Dh153,00
On sale: now
How Beautiful this world is!
Dr Amal Khalid Alias revealed a recent case of a woman with daughters, who specifically wanted a boy.
A semen analysis of the father showed abnormal sperm so the couple required IVF.
Out of 21 eggs collected, six were unused leaving 15 suitable for IVF.
A specific procedure was used, called intracytoplasmic sperm injection where a single sperm cell is inserted into the egg.
On day three of the process, 14 embryos were biopsied for gender selection.
The next day, a pre-implantation genetic report revealed four normal male embryos, three female and seven abnormal samples.
Day five of the treatment saw two male embryos transferred to the patient.
The woman recorded a positive pregnancy test two weeks later.
Kat Wightman's tips on how to create zones in large spaces
- Area carpets or rugs are the easiest way to segregate spaces while also unifying them.
- Lighting can help define areas. Try pendant lighting over dining tables, and side and floor lamps in living areas.
- Keep the colour palette the same in a room, but combine different tones and textures in different zone. A common accent colour dotted throughout the space brings it together.
- Don’t be afraid to use furniture to break up the space. For example, if you have a sofa placed in the middle of the room, a console unit behind it will give good punctuation.
- Use a considered collection of prints and artworks that work together to form a cohesive journey.
Expert advice
“Join in with a group like Cycle Safe Dubai or TrainYAS, where you’ll meet like-minded people and always have support on hand.”
Stewart Howison, co-founder of Cycle Safe Dubai and owner of Revolution Cycles
“When you sweat a lot, you lose a lot of salt and other electrolytes from your body. If your electrolytes drop enough, you will be at risk of cramping. To prevent salt deficiency, simply add an electrolyte mix to your water.”
Cornelia Gloor, head of RAK Hospital’s Rehabilitation and Physiotherapy Centre
“Don’t make the mistake of thinking you can ride as fast or as far during the summer as you do in cooler weather. The heat will make you expend more energy to maintain a speed that might normally be comfortable, so pace yourself when riding during the hotter parts of the day.”
Chandrashekar Nandi, physiotherapist at Burjeel Hospital in Dubai
More from Neighbourhood Watch:
How to avoid getting scammed
- Never click on links provided via app or SMS, even if they seem to come from authorised senders at first glance
- Always double-check the authenticity of websites
- Enable Two-Factor Authentication (2FA) for all your working and personal services
- Only use official links published by the respective entity
- Double-check the web addresses to reduce exposure to fake sites created with domain names containing spelling errors
Mohammed bin Zayed Majlis
The specs
Engine: 3.9-litre twin-turbo V8
Power: 620hp from 5,750-7,500rpm
Torque: 760Nm from 3,000-5,750rpm
Transmission: Eight-speed dual-clutch auto
On sale: Now
Price: From Dh1.05 million ($286,000)
