Assadakah News Agency - Middle East alternative assetmanager Investcorp Holding is seeking to raise up to $600million from the listing of an investment vehicle in Abu Dhabithis year, two sources with knowledge of the matter.
Bahrain-based Investcorp is making preparations for apotential public share sale of Investcorp Capital, registered inthe Abu Dhabi Global Market, the international financial centrein the capital of the United Arab Emirates.
The vehicle, which will operate as an independent company,will hold Investcorp's private market co-investments acrossassets including credit, real estate and private equity, saidthe sources, declining to be named as the matter is not public.
Investcorp is working with Goldman Sachs, First AbuDhabi Bank (FAB), Emirates NBD and HSBCon the plan, the people said. Moelis & Co isacting as financial adviser, they said. Bloomberg in March reported Investcorp was putting togethera plan to list the vehicle. Deliberations are at early stages and no final decision hasbeen taken while the company is also evaluating other listingvenues and options for growth.
Investcorp , HSBC and FAB declined to comment. GoldmanSachs, Moelis & Co, and Emirates NBD did not immediately respondto a request for comment.
With $50 billion of assets under management (AUM), Investcorp is best known for listing luxury goods brands, suchas Gucci and Tiffany & Co.
Under the leadership of Mohammed Al Ardhi, Investcorp'scurrent executive chairman, Investcorp has grown its AUMfivefold over the last seven years by diversifying into sectorsincluding infrastructure, acquiring stakes in other generalpartners, and insurance. It has listed two blank check companies on the Nasdaq in theU.S., one with a focus on Europe and the other on India.
The company, which has opened offices in Singapore, Beijing,Mumbai and Delhi in that time, has also diversified its sourcesof fundraising. Abu Dhabi state fund Mubadala Investment Company acquired20% of the firm in 2017.
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