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Investcorp buys 3i’s debt business

Investcorp, the global alternative investment manager listed on the Bahrain Bourse, has announced it has completed the acquisition of 3i’s debt management business. The acquisition adds $11 billion of assets to the firm, more than doubling the value of assets managed by Investcorp to $21.4 billion.  Terms of the deal were not disclosed.

Since it was launched in 1982, Investcorp has executed more than 170 investments in the USA, Europe the Middle East and North Africa across a wide range of sectors including real estate, retail and consumer products, technology, business services and industrials. Rebranded as Investcorp Credit Management, the new business will invest primarily in senior secured corporate debt issued by large and mid-cap corporations in the US and Western Europe.

Noting the firm’s ambition to grow the value of its assets under management to $25 billion in the medium term, Investcorp’s Executive Chairman, Mohamed Alardhi said “We are firmly on track to achieve our goal as we continue to extend Investcorp’s existing product offerings across private equity, real estate, and alternative investment solutions (formerly hedge funds). The integration of ICM is a natural fit with our global vision of providing our clients with a diversified range of alternative investment opportunities across different geographies.”

Jeremy Ghose will continue to head up Investcorp’s Credit Management business.

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