Bahrain’s Investcorp, the alternative asset manager that counts Mubadala Investment Company as its biggest shareholder, has raised more than $1.2 billion from its inaugural North American private equity fund as it looks to boost its investments in mid-market services businesses on the continent.
Blue-chip institutional investors such as pension plans, family offices, private wealth funds and an insurance company participated in the North American Private Equity Fund I, Investcorp said on Wednesday.
“We have a long and established history of investing in North America mid-market services companies, and we look forward to continuing to broaden and deepen our institutional investor base as this strategy continues to scale,” said Mohammed Alardhi, executive chairman of Investcorp.
The company is focusing on family and founder-owned businesses across six sub-sectors, including technology-enabled, knowledge and professional, data and information, supply chain, industry and speciality consumer services as part of its investment strategy.
The fund currently has seven investments within its portfolio.
“We are excited about the potential growth and value-creation opportunities presented by fund I’s existing portfolio companies and our robust pipeline of potential new investments,” said Dave Tayeh, North America’s head of private equity at Investcorp.
Set up in 1982, 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.
Investcorp has carried its deal-making momentum into 2023 and in January said it plans to invest up to $1 billion in the GCC property market over the next five years.
In January, it announced its first Gulf property investment in a temperature-controlled 19,974-square-metre warehouse in Dammam, Saudi Arabia.
It was the first in a series of property investments worth $100 million in total that Investcorp was assessing in the kingdom, the company said at the time.
In February, Investcorp agreed to make a “significant” investment in Finland-based technology company Eficode to become its majority shareholder.
As part of the deal, Investcorp is teaming up with Eficode’s founder Risto Virkkala and its chief executive Ilari Nurmi to support the company’s next phase of growth and international expansion.
Investcorp is also looking at new investment deals in Japan, Asia’s second-largest economy, as the company continues to expand its operations globally.
Investcorp’s North America Private Equity group has completed about 70 transactions in North American mid-market businesses, with investments worth more than $22 billion since inception, the company said.
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Grand Slam Los Angeles results
Men:
56kg – Jorge Nakamura
62kg – Joao Gabriel de Sousa
69kg – Gianni Grippo
77kg – Caio Soares
85kg – Manuel Ribamar
94kg – Gustavo Batista
110kg – Erberth Santos
Women:
49kg – Mayssa Bastos
55kg – Nathalie Ribeiro
62kg – Gabrielle McComb
70kg – Thamara Silva
90kg – Gabrieli Pessanha
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
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Countries with largest unpaid bill for UN budget in 2019
USA – $1.055 billion
Brazil – $143 million
Argentina – $52 million
Mexico – $36 million
Iran – $27 million
Israel – $18 million
Venezuela – $17 million
Korea – $10 million
Countries with largest unpaid bill for UN peacekeeping operations in 2019
USA – $2.38 billion
Brazil – $287 million
Spain – $110 million
France – $103 million
Ukraine – $100 million
RESULTS
Manchester United 2
Anthony Martial 30'
Scott McTominay 90 6'
Manchester City 0
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