Investcorp swings to H1 net profit on hedge funds

* username: rupertbu

Bahrain- and London-listed Investcorp INVB.BH (INVBq.L) swung to a first-half net profit as its hedge fund business recovered from the financial crisis.

On Wednesday, the investment house said net profit in the six months ended Dec 31. was $60.2 million, after a $511 million net loss a year ago.

It said its hedge fund business posted income of $96.6 million in the first half versus a loss of $398.1 million.