Investcorp remains commited to reaching its $50bn of assets under management despite the challenges of Covid-19 and a global recession. Courtesy Investcorp
Investcorp remains commited to reaching its $50bn of assets under management despite the challenges of Covid-19 and a global recession. Courtesy Investcorp
Investcorp remains commited to reaching its $50bn of assets under management despite the challenges of Covid-19 and a global recession. Courtesy Investcorp
Investcorp remains commited to reaching its $50bn of assets under management despite the challenges of Covid-19 and a global recession. Courtesy Investcorp

Investcorp-backed Nut Tree’s assets under management top $2bn


Fareed Rahman
  • English
  • Arabic

Investcorp-backed Nut Tree Capital Management has grown assets under management to $2 billion (Dh7.34bn) following the final closing of its drawdown fund with capital commitments of $320 million.

Nut Tree Capital's core strategy is investing in credit markets and looking to leverage periods of market dislocations to capture attractive opportunities in corporate credit. It has built assets of about $1.8bn through this strategy, after starting with $100m in 2016.

"Nut Tree’s holistic approach has helped generate strong risk-adjusted returns across cycles,” Lionel Erdely, co-head of Investcorp-Tages, said. “We look forward to building upon this success as we continue to identify attractive investment opportunities, partner with talented managers and serve our global clients with tailored solutions."

Based in New York, Nut Tree Capital Management is led by founding partner and chief investment officer Jed Nussbaum, who was previously a partner at Redwood Capital, a distressed credit manager.

The $320m Drawdown Fund has been created to invest primarily in distressed and deeply stressed corporate debt, with a focus on mid-size North American issuers.

Established in 1982, Investcorp is one of the oldest Middle East alternative asset managers, with $31.1bn of assets under management as of December 31, 2019, according to its half-year accounts.

Last month, it closed a new fund with €318m (Dh1.3bn) in commitments as it looks to pick up large-cap European secured loans amid the Covid-19 pandemic.

The Mount Row Credit Fund will target the largest and most liquid European issuers with average earnings before interest, taxes, depreciation and amortisation of more than €200m per annum.

The Bahrain-based company, which counts Mubadala Investment Company as its biggest shareholder, also closed a new fund targeting Italian distressed debt with €340m in commitments to invest in Italy’s non-performing loans market.

Investcorp earlier this year merged its absolute return investment arm with Italy's Tages Capital in a 50/50 joint venture to create Investcorp-Tages, a global multi-manager investment firm.

The company is looking at attractive investment opportunities to boost its portfolio amid the coronavirus pandemic. It acquired German cybersecurity company Avira for $180m as demand for technology-driven services grows.

Mental%20health%20support%20in%20the%20UAE
%3Cp%3E%E2%97%8F%20Estijaba%20helpline%3A%208001717%3Cbr%3E%E2%97%8F%20UAE%20Ministry%20of%20Health%20and%20Prevention%20hotline%3A%20045192519%3Cbr%3E%E2%97%8F%20UAE%20Mental%20health%20support%20line%3A%20800%204673%20(Hope)%3Cbr%3EMore%20information%20at%20hope.hw.gov.ae%3C%2Fp%3E%0A

 

 

Fighting with My Family

Director: Stephen Merchant 

Stars: Dwayne Johnson, Nick Frost, Lena Headey, Florence Pugh, Thomas Whilley, Tori Ellen Ross, Jack Lowden, Olivia Bernstone, Elroy Powell        

Four stars

Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


- Abdullah Ishnaneh, Partner, BSA Law 

Draw:

Group A: Egypt, DR Congo, Uganda, Zimbabwe

Group B: Nigeria, Guinea, Madagascar, Burundi

Group C: Senegal, Algeria, Kenya, Tanzania

Group D: Morocco, Ivory Coast, South Africa, Namibia

Group E: Tunisia, Mali, Mauritania, Angola

Group F: Cameroon, Ghana, Benin, Guinea-Bissau

Cryopreservation: A timeline
  1. Keyhole surgery under general anaesthetic
  2. Ovarian tissue surgically removed
  3. Tissue processed in a high-tech facility
  4. Tissue re-implanted at a time of the patient’s choosing
  5. Full hormone production regained within 4-6 months
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
While you're here
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THE BIO

BIO:
Born in RAK on December 9, 1983
Lives in Abu Dhabi with her family
She graduated from Emirates University in 2007 with a BA in architectural engineering
Her motto in life is her grandmother’s saying “That who created you will not have you get lost”
Her ambition is to spread UAE’s culture of love and acceptance through serving coffee, the country’s traditional coffee in particular.

The stats

Ship name: MSC Bellissima

Ship class: Meraviglia Class

Delivery date: February 27, 2019

Gross tonnage: 171,598 GT

Passenger capacity: 5,686

Crew members: 1,536

Number of cabins: 2,217

Length: 315.3 metres

Maximum speed: 22.7 knots (42kph)

Volvo ES90 Specs

Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)

Power: 333hp, 449hp, 680hp

Torque: 480Nm, 670Nm, 870Nm

On sale: Later in 2025 or early 2026, depending on region

Price: Exact regional pricing TBA

Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458. 

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MATCH INFO

Serie A

Juventus v Fiorentina, Saturday, 8pm (UAE)

Match is on BeIN Sports

The biog

Favourite car: Ferrari

Likes the colour: Black

Best movie: Avatar

Academic qualifications: Bachelor’s degree in media production from the Higher Colleges of Technology and diploma in production from the New York Film Academy

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%3Cp%3EDirector%3A%20Moe%20Alatawi%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Ra%E2%80%99ed%20Alshammari%2C%20Adwa%20Fahd%2C%20Muhand%20Alsaleh%3C%2Fp%3E%0A%3Cp%3ERating%3A%203%2F5%3C%2Fp%3E%0A
COMPANY PROFILE

Name: Lamsa

Founder: Badr Ward

Launched: 2014

Employees: 60

Based: Abu Dhabi

Sector: EdTech

Funding to date: $15 million

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home. 

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Kibsons%20Cares
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'Munich: The Edge of War'

Director: Christian Schwochow

Starring: George MacKay, Jannis Niewohner, Jeremy Irons

Rating: 3/5

Company Profile
Company name: OneOrder

Started: October 2021

Founders: Tamer Amer and Karim Maurice

Based: Cairo, Egypt

Industry: technology, logistics

Investors: A15 and self-funded 

What went into the film

25 visual effects (VFX) studios

2,150 VFX shots in a film with 2,500 shots

1,000 VFX artists

3,000 technicians

10 Concept artists, 25 3D designers

New sound technology, named 4D SRL

 

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Match info

Uefa Champions League Group H

Juventus v Valencia, Tuesday, midnight (UAE)

The%20Hunger%20Games%3A%20The%20Ballad%20of%20Songbirds%20%26%20Snakes
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%C2%A0Francis%20Lawrence%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%C2%A0%3C%2Fstrong%3ERachel%20Zegler%2C%20Peter%20Dinklage%2C%20Viola%20Davis%2C%20Tom%20Blyth%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3%2F5%3C%2Fp%3E%0A
Disclaimer

Director: Alfonso Cuaron 

Stars: Cate Blanchett, Kevin Kline, Lesley Manville 

Rating: 4/5

PREMIER LEAGUE FIXTURES

Tuesday (UAE kick-off times)

Leicester City v Brighton (9pm)

Tottenham Hotspur v West Ham United (11.15pm)

Wednesday

Manchester United v Sheffield United (9pm)

Newcastle United v Aston Villa (9pm)

Norwich City v Everton (9pm)

Wolves v Bournemouth (9pm)

Liverpool v Crystal Palace (11.15pm)

Thursday

Burnley v Watford (9pm)

Southampton v Arsenal (9pm)

Chelsea v Manchester City (11.15pm)