Bahrain-based alternative asset manager Investcorp appointed Frances Townsend, a former adviser to President George W. Bush to its board, as the company continues to expand.
Ms Townsend's appointment is effective immediately and boosts Investcorp's board to 15 members, 10 of whom joined the company in the past five years, the company said on Monday.
"Over the past five years, we have been focused on further strengthening and diversifying our board to ensure that we have the right mix of global skills, expertise and perspectives … to achieve our ambitious growth plans," said Mohammed Alardhi, executive chairman of Investcorp.
"We believe that Frances is an excellent addition to our board, bringing significant legal and global business experience in both the public and private sectors."
Ms Townsend is emeritus vice chairwoman at investment company MacAndrews & Forbes, working across MacAndrew's portfolio of companies, with a focus on international, legal, compliance and business development issues.
During her time in the Bush administration, she was the president's homeland security and counterterrorism adviser and chaired the homeland security council.
She was also the first assistant commandant for intelligence for the US Coast Guard and spent 13 years at the Department of Justice in various senior positions.
"I am particularly looking forward to contributing to the firm's remarkable global growth journey and working alongside my fellow board members to drive sustainable value in the years to come," said Ms Townsend.
Investcorp, which counts Abu Dhabi's Mubadala Investment Company as its biggest shareholder, had assets under management worth $32.2 billion as of June 30.
In recent months, the company expanded its technology portfolio, boosting its investment in software, data analytics, cyber security and FinTech companies.
Last month, Investcorp entered into a partnership with New York's Centre Lane Partners to drive private equity and private credit investment in mid-market companies in North America.
Investcorp is also bullish about Indian investments and plans to acquire technology, healthcare and financial services companies in the country, Gaurav Sharma, head of private equity at Investcorp India, told The National earlier this week.
Over the past two years, the alternative asset manager has spent more than $300 million on acquisitions in Asia's third-largest economy.
