News

Investcorp posts 31% rise in profits for H2 2020

ProfitBahrain-based Investcorp posted a 31% rise in profit for the six months up to December 2020, helped by the partial reopening of economies and rebounding financial markets. Net profit for the second half of the year reached US$63 billion, up from the $48 billion made in the first half of the year. Assets under management grew to a record $35 billion, a 9% increase on the previous six months, helped by a recovery in asset values and the improved performance of underlying portfolio companies. Investcorp executive chairman Mohammed Alardhi credited the positive results to “the progress we have delivered on our growth and diversification strategy, coupled with our robust investment and distribution platform”. He added that the second half performance not only helped the firm absorb the shock from the Covid 19 pandemic but will also drive “continued success and resilience amidst this uncertain market environment”. © 2021 funds global mena

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