Investcorp Plots Hedge Fund, Real Estate Push as Founder Retires - Bloomberg Business

Investcorp Plots Hedge Fund, Real Estate Push as Founder Retires - Bloomberg Business:



"Investcorp Bank BSC, the Bahrain money manager whose founder is stepping down after three decades, is planning to rebuild its hedge-fund business and move back into European real estate.



Best known for taking luxury brands Tiffany & Co. and Gucci Ltd. public under founder Nemir Kirdar, Investcorp may also seek to shift its private-equity operations to larger transactions in the U.S. and push into Asia as its new management tries to boost growth, which stalled in the financial crisis.



Investcorp’s appointment of Mohammed Al-Shroogi and Rishi Kapoor as co-chief executive officers in April and its focus on new businesses comes amid rising competition as wealthy Middle East families are courted by global and regional fund managers. That is a marked difference from the landscape when Kirdar started the firm 32 years ago at the initiative of the Arab Monetary Fund to invest wealth created by oil-exporting countries. It now manages about $10 billion, down from $17.6 billion in 2008."



'via Blog this'