Gulf’s Investcorp Gets Commitments of Over $1.1 Billion For Fund

Bahrain-based alternative asset management giant Investcorp closed a fund that buys minority stakes in private investment firms, drawing commitments of over $1.1 billion in the latest Gulf deal to continue despite escalating conflict in the region.

The vehicle — Investcorp’s second so-called GP-stakes fund — drew $1.25 billion in total commitments including $155 million for co-investments, according to a statement on Friday. The fund is roughly 75% larger than its predecessor and brings assets under management for the firm’s GP-staking unit to more than $2.4 billion.