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Investcorp to Expand, Al-Shroogi Says

Investcorp SA, a Manama, Bahrain- based alternative asset manager, has “ambitious expansion plans” in the Persian Gulf region, said Mohammed Al-Shroogi, president for Gulf business.

Investcorp, which has $11.5 billion of assets under management mostly in developed markets, is planning to open offices in countries including the United Arab Emirates and Qatar, pending regulatory approvals, Al-Shroogi said in interview at the Bloomberg Doha Conference.

Investors in the region have regained their appetite for real estate, hedge funds and private equity in the past two years, Al-Shroogi said.

The firm’s $1 billion Gulf Opportunity Fund will be closed in the next couple of months, he said.

To contact the reporter on this story: Mahmoud Kassem in Doha at mkassem1@bloomberg.net

To contact the editor responsible for this story: Dale Crofts at dcrofts@bloomberg.net

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