Investcorp, Aberdeen Standard Investments team for Gulf infrastructure push

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Bahrain-headquartered alternative assets firm Investcorp has teamed with Aberdeen Standard Investments for a joint venture targeting social and core infrastructure projects in Gulf Cooperation Council (GCC) countries.

A statement from the pair said the JV would benefit from ASI’s track-record of investing in 120 social infrastructure projects over the past 20 years and Investcorp’s extensive private equity expertise and market reach in the Gulf.

The joint venture will actively target greenfield and brownfield social and core essential infrastructure assets in sectors including healthcare, education, utilities, social housing, smart cities, roads and rail.

Investcorp executive chairman Mohammed Alardhi said, “This joint venture is a milestone for Investcorp and is in line with our strategy of diversifying our offerings to clients.

“Our investment objectives in the GCC are aligned with government initiatives, and by investing in critical infrastructure we are supporting the growth of those economies.

“Our deep knowledge of the GCC markets coupled with ASI’s expertise and strong track record in investing in infrastructure projects serves to strengthen our position as a crucial private investor in the GCC region.”

ASI co-chief exec Martin Gilbert added, “The partnership brings together ASI’s strong track record of over 20 years in concession and social infrastructure fund management with Investcorp’s excellent relationships and reputation in the Gulf as well as wider asset management expertise.

“We are looking forward to working with Investcorp as part of this exciting opportunity to invest in the long-term growth story of the GCC and to expand our geographic footprint.”

Investcorp had US$22.5bn in total AUM at the start of the year, and has made more than 185 private equity deals worldwide since it was founded in 1982.

ASI, the asset management business of Standard Life Aberdeen plc, was managing more than £557bn at the end of June last year.

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