Investcorp to focus $1bn infrastructure fund on Saudi

Bahrain-based Investcorp is set to plough more than half of its $1 billion Gulf Cooperation Council (GCC) infrastructure fund on projects in Saudi Arabia. The rest of the investment will focus on various projects in the GCC including ports in Oman, utilities in the UAE and toll roads in Bahrain. Investcorp’s co-chief executive, Hazem Ben-Gacem, said the fund will focus on healthcare, education, social housing, infrastructure, roads and utilities. Ben-Gacem also said that Investcorp plans to launch its second Mena-focused private equity (PE) fund soon. It will likely comprise $400 million in capital and has US-based PE firm HarbourVest as an anchor investor. Investcorp also announced an $11.3 million investment in Intergrow Brands Private, a subsidiary of India-based Synthite, the world’s largest producer of spice extracts. ©2019 funds global mena

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