Investcorp, which counts Mubadala Investment Company as its biggest shareholder, appointed former Credit Suisse Group chairman Urs Rohner to its international advisory board.
Mr Rohner’s appointment is effective from July 1 and comes after Frances Townsend, a former adviser to President George W Bush, joining the company’s advisory board in January this year.
“Urs brings a wealth of knowledge and experience accumulated throughout a distinguished career at the highest levels of international finance,” said Investcorp's executive chairman Mohammed Alardhi on Monday.
“As we continue on Investcorp’s growth journey … we are continually searching for the best and most strategic advisers from a diverse range of relevant practice areas to support us.”
Mr Rohner has more than 25 years of experience in international financial markets and also served as the chairman of the governance and nominations committee and the Credit Suisse Research Institute from 2011 until his departure from the Swiss lender in 2021.
He also sits on the board of GlaxoSmithKline and was a board member at various Swiss and international business associations, including the Institute of International Finance and the European Banking Group.
Investcorp’s advisory board includes Heizo Takenaka, Ute Geipel-Faber, Ms Townsend, Wolfgang Schűssel, Deepak Parekh, Ana Palacio, Frederick Ma Si-Hang, Wolfgang Ischinger, Sir Michael Fallon, Mohamed El-Erian and Ann-Kristin Achleitner.
Established more than four decades ago, Investcorp has grown to become one of the leading alternative asset management companies in the region, investing across assets classes and geographies.
The company has been on an acquisition spree during the pandemic to capitalise on lower asset valuations and is bullish about the prospects of growth for its portfolio, particularly its investments in Asia.
The Bahrain-based asset manager is looking to more than double its assets under management to about $75 billion over the next five to seven years, with Asia accounting for up to 20 per cent of its total portfolio, its co-chief executive Rishi Kapoor told The National earlier this month.
“Since the launch of its global growth journey over five years ago, the firm has built an impressive footprint around the world – both across geographies and asset classes,” said Mr Rohner.
“I look forward to collaborating with the broader international advisory board to help realise the full potential of the growth strategy it has embarked upon.”
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Kabir Singh
Produced by: Cinestaan Studios, T-Series
Directed by: Sandeep Reddy Vanga
Starring: Shahid Kapoor, Kiara Advani, Suresh Oberoi, Soham Majumdar, Arjun Pahwa
Rating: 2.5/5
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
Guide to intelligent investing
- Stay invested: Time in the market, not timing the market, is critical to long-term gains.
- Rational thinking: Breathe and avoid emotional decision-making; let logic and planning guide your actions.
- Strategic patience: Understand why you’re investing and allow time for your strategies to unfold.
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Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
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Second leg: May 1, Santiago Bernabeu, Madrid
Company%20Profile
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Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
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Who was Alfred Nobel?
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- Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
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