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Investcorp to reach $25bn AUM target next year, sets sights on $100bn

* In November 2015, firm set aim to more than double its AUM

* Firm plans stakes in menswear company, supermarket group and cybersecurity firms

* Plans to become first asset manager in region to reach $100bn AUM


Investcorp expects to reach its target of $25 billion for assets under management (AUM) next year, by which time it will have a strategy formulated to take the measure to $100 billion, chairman Mohammed al-Ardhi said late on Wednesday.

The alternative investment firm had set an aim in November 2015 of more than doubling its AUM over a period of seven years from $11bn, a feat Ardhi believed would put it into the top tier of global investment companies.

The acquisition of the debt-management business of Britain’s 3i Group PLC for £222 million pounds ($275.5m), announced last month, has increased its AUM to $23bn within the first year of the target.


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Hitting 100

“This time next year, with these initiatives behind us, we will be at $25 billion,” Ardhi told a dinner audience ahead of the firm’s investor day.

Apart from 3i, Investcorp has also announced deals in the past 12 months for a 55 percent stake in Italian menswear company Corneliani, a minority stake in Saudi Arabian supermarket group Bindawood Holding, and cybersecurity firms Securelink and Nebulas.

“At that point, we will put a strategy in place – a strategy we will discuss with you – for becoming the first asset manager in the region to reach $100bn AUM,” Ardhi said, adding it would talk more about how the plan will be next year.