Investcorp acquires controlling stake in US technology talent development company

The Bahrain investment firm has been on a buying spree this year as it seeks to double its assets under management to $50 billion from $22.5bn in December

Since 2001, Investcorp has invested more than $1.5bn in technology businesses worldwide. Courtesy Investcorp

Investcorp, the Bahrain firm that counts Mubadala Investment Company as its biggest shareholder, bought a controlling stake in US technology talent development company Revature for an undisclosed sum.

“Investcorp has so far been very successful in the investments made in the education and IT staffing sectors,” said Hazem Ben-Gacem, co-chief executive of Investcorp, on Monday. "Through our prior investments in US companies we have built a strong knowledge base and solid understanding on the demand drivers and this is why we see great potential with a company like Revature."

Investcorp, in which Mubadala has a 20 per cent stake, has been snapping up investments this year as it seeks to double its assets under management to $50 billion from $22.5bn as of the end of December.

This month it said it will acquire a majority stake in Cambio Healthcare Systems based in Stockholm for an undisclosed sum.

In January, Investcorp acquired US company Health Plus Management for another undisclosed sum and signed a deal with London's Coller Capital for some of its European private equity portfolio assets that will help to create a new $1bn buyout fund.

Investcorp reported a 5 per cent rise in its first half-year profits, boosted by an increase in fee income from assets under management and lower operating expenses. Net income for the six-month period of the company's fiscal year ending December 31 rose to $58 million.

Since its inception in 1982, Investcorp has made more than 185 corporate investments in the US, Europe and the broader Middle East and North Africa region, including Turkey. The company has invested across a range of sectors with the total transaction value exceeding $59bn.