Key Takeaways
- • Investcorp raised "north of $7 billion" in financing for the fiscal year ended June 30, 2026, and beat its fund-raising target, according to chief investment officer and vice chairman Rishi Kapoor, speaking to The National.
- • The Bahrain-headquartered alternative asset manager reached $64 billion in assets under management at end-June, "slightly ahead" of its $63 billion target, and remains on track for $100 billion.
- • Investcorp targets $7 billion or more in new financing for the current fiscal year, with more than three-quarters of fund-raising coming from outside the Gulf.
- • Kapoor described the Iran-related conflict as a "bump on the road" and argued Gulf diversification and infrastructure spending remain intact.
Summary
Bahrain's Investcorp beat both its fund-raising and assets under management targets for the 2026 financial year despite a months-long war that has disrupted investment activity in the Gulf region, according to chief investment officer and vice chairman Rishi Kapoor, who spoke to The National. Backed by Abu Dhabi's sovereign investor Mubadala Investment Company, Investcorp raised "north of $7 billion" in financing for the fiscal year ended June 30, with a large share coming from investors outside the region.
The firm hit $64 billion in assets at the end of June, "slightly ahead" of its $63 billion target. Kapoor said the growth in the asset base in the coming fiscal year is "a bit hard to pin down," as net AUM changes are heavily influenced by exits and capital calls, which he described as very episodic. The company nonetheless remains on track to reach its goal of $100 billion in AUM. Investcorp aims to secure $7 billion or more in new financing in the current fiscal year, a pace Kapoor described as very similar to the prior year given the cadence of its business.
Kapoor emphasized that Investcorp is a global firm "first and foremost," with about 90 per cent of its investing activity between the US and Europe and more than three-quarters of fund-raising from outside the Gulf. The firm, which was set up in 1982 and operates six business lines spanning private equity, real estate, absolute return investments, infrastructure, credit management and strategic capital, describes itself as a two-way conduit for capital into and out of the Gulf. Its Middle East and broader Asian assets account for 10 per cent of its total portfolio. Earlier this week, its Saudi Pre-IPO Growth Fund joined a consortium led by AlTouq Group and Thara Future Investments to acquire Saudi Arabia's Reda Gulf Holding.
Kapoor acknowledged that the continuing conflict has affected some of Investcorp's regional exits, but characterized the disruption as a short-term "bump on the road." He said the region's investment prospects are "still pretty much the same, if not stronger," and that the conflict has not materially altered economic diversification programs, which he argued will drive greater government and private capex in infrastructure, supply chains, energy, defence and food security. A permanent deal to end the Iran war remains elusive, and US President Donald Trump has warned of a possible new military operation, which US media reported could begin after the November 3 midterm elections.
The firm hit $64 billion in assets at the end of June, "slightly ahead" of its $63 billion target. Kapoor said the growth in the asset base in the coming fiscal year is "a bit hard to pin down," as net AUM changes are heavily influenced by exits and capital calls, which he described as very episodic. The company nonetheless remains on track to reach its goal of $100 billion in AUM. Investcorp aims to secure $7 billion or more in new financing in the current fiscal year, a pace Kapoor described as very similar to the prior year given the cadence of its business.
Kapoor emphasized that Investcorp is a global firm "first and foremost," with about 90 per cent of its investing activity between the US and Europe and more than three-quarters of fund-raising from outside the Gulf. The firm, which was set up in 1982 and operates six business lines spanning private equity, real estate, absolute return investments, infrastructure, credit management and strategic capital, describes itself as a two-way conduit for capital into and out of the Gulf. Its Middle East and broader Asian assets account for 10 per cent of its total portfolio. Earlier this week, its Saudi Pre-IPO Growth Fund joined a consortium led by AlTouq Group and Thara Future Investments to acquire Saudi Arabia's Reda Gulf Holding.
Kapoor acknowledged that the continuing conflict has affected some of Investcorp's regional exits, but characterized the disruption as a short-term "bump on the road." He said the region's investment prospects are "still pretty much the same, if not stronger," and that the conflict has not materially altered economic diversification programs, which he argued will drive greater government and private capex in infrastructure, supply chains, energy, defence and food security. A permanent deal to end the Iran war remains elusive, and US President Donald Trump has warned of a possible new military operation, which US media reported could begin after the November 3 midterm elections.
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