New York-based Investcorp has launched a new business called Strategic Capital Partners which will take minority equity interests in alternative asset managers.
Newly hired Anthony Maniscalco is leading the effort as managing partner and head of strategic capital investments within Investcorp’s absolute return investments group.
Investcorp has a pipeline of investment opportunities that the team is in the process of executing across hedge funds, private equity, private debt, real estate, venture capital and hedge funds.
Purchasing minority equity interests totaling no more than 25% of GPs, the first deal is likely to be struck in 2019.
The GP stakes effort remains separate from the firm’s seeding and acceleration business, which is “still going strong”, a spokesperson told HFM InvestHedge. The Bahrain-listed firm announced in March that it had invested in Shoals Capital, a start-up launched by ex-EJF Capital partner Jeff Hinkle.
The seeding unit is part of the Investcorp’s $4bn absolute return investments business, which also includes $2.2bn in FoHF assets, according to the latest HFM InvestHedge Billion Dollar Club.
“Investcorp has shown unwavering commitment to alternative investing for over 35 years, which aligns with our approach as active partners with alternative asset managers,” said Maniscalco.
Maniscalco was managing director and co-head of Anteil Capital Partners, a stake taking unit set up and wound down by Credit Suisse last year.
Prior to that, he was a managing director at Blackstone Strategic Capital Holdings, the GP stakes business of Blackstone Alternative Asset Management.
Maniscalco is joined in launching the new Investcorp business by David Lee, as a partner, and Dhanraj Chandiramani, as a vice-president, two of his former colleagues at Credit Suisse.
“We are looking forward to expanding our range of capabilities by introducing this new strategy that will target investments in mid-sized managers across different alternative asset classes,” said Rishi Kapoor, co-chief executive officer of Investcorp.
“Anthony’s deep experience in the alternative investment management space will be a great addition to our team as we continue to grow our alternatives strategy across the globe.”
Investcorp launches GP stakes business on HFM InvestHedge.