Bahrain’s Investcorp Plans New Fund After Investing $1 Billion - Bloomberg:
"Investcorp Bank BSC, the Bahrain-based alternative investment firm managing $10.5 billion, is planning a new buyout fund for the Middle East after almost completing investments in its $1 billion Gulf Opportunity Fund.
The new fund “could be a similar size” or smaller than the existing fund, Mohammed Al-Shroogi, president for Gulf business, said in a phone interview from Manama, Bahrain today. The Gulf Opportunity Fund has cash for one small deal, he said.
Investcorp said today it had bought a 30 percent stake in Saudi Arabia’s Theeb Rent A Car, the Kingdom’s second-biggest car rental company. The investment in Theeb, whose revenue and profit rose more than 17 percent annually over the past three years, is the fund’s fourth investment in Saudi Arabia and the tenth in the region."
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