Bahrain’s Investcorp Says It Raised $793 Million in Second Half
Investcorp, the Bahrain asset manager that owns stakes in Gucci and Saks Fifth Avenue, said it raised $793 million for new investments in the second half, the most since the start of the financial crisis in 2008.
The firm amassed $516 million from institutional investors for hedge funds, $204 million in corporate investment, and $73 million for real estate, it said today in an e-mailed statement. The Manama-based firm said it returned $1.1 billion from investment realizations and distributions to itself and clients.
Investcorp has investments in Gucci and Saks Fifth Avenue, and about $11.5 billion in assets under management, according to its website. Earlier this month the firm it sold CCC Information Services Inc. to private equity firm Leonard Green and Partners LP for more than $550 million.
The investment company also said today profit rose to $39.2 million in the six months ended Dec. 31, from $5.2 million in the year-earlier period.
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