Bahrain’s Investcorp raising up to $300m for maiden India fund

Photo: Pixabay

Bahrain’s alternative asset manager Investcorp, which entered the Indian market last year through the acquisition of the private equity (PE) and real estate funds businesses of IDFC Alternatives Ltd, has started raising its maiden fund for the Indian market, according to three people aware of the development.

“The firm has started raising $250-300 million for a new real estate fund and is raising an additional $100 million in a follow-on round for the existing PE fund that it bought from IDFC Alternatives,” said one of the people mentioned above, requesting anonymity.

Investcorp manages about $22.5 billion of assets across PE, real estate, special situations and credit. It has offices in New York, London, Bahrain, Abu Dhabi, Doha, Riyadh, and Singapore.

Mint had reported in May 2018 that Investcorp was buying the PE and real estate lending businesses of IDFC Alternatives. The sale was part of the restructuring of the IDFC Group, which also saw the sale of the infrastructure investment arm of IDFC Alternatives to Global Infrastructure Partners, a US-based infrastructure investor .

On the PE side, IDFC Alternatives manages four funds with investments in companies such as Parag Milk Foods Ltd, Staragri Warehousing and Collateral Management Ltd, and GMR Energy Ltd.

“Investcorp is tapping its existing Lp (limited partners—investors in a PE fund) base in the Gulf region and other geographies for the fundraise,” said another person mentioned above, also requesting anonymity.

Investcorp did not comment on Mint’s queries on its India fundraise plans.

The initial focus in India will be on the PE and real estate businesses, given the inherent strength of IDFC Alternatives in these areas, Investcorp co-CEO Rishi Kapoor had said in an interaction in December.

This article was first published on livemint.com

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.