Investcorp wins $1bn US deal

MANAMA. November 11. KAZINFORM Investcorp, the asset management firm specializing in alternative investments, announced Tuesday that it had been appointed to manage two US hedge fund mandates worth a combined $310 million. These managed account mandates from US institutional investors are part of the more than $1 billion in new mandates that Investcorp's hedge funds business have received this year from institutional investors in the United States; Kazinform refers to the Arab News.

"The two US institutions who awarded us these new mandates are existing clients, who have been investing in Investcorp's hedge funds programs since 2007, before the financial crisis," said Mohammed Al-Shroogi, Investcorp's president of Gulf business. "It is significant, and a pleasing endorsement, that they are, at this time, further increasing their allocations, and by significant amounts, to our hedge funds," he added.

"This reflects a growing trend among US institutional investors, who are currently increasing their portfolio allocations to alternative investment classes, in particular to hedge funds. We are anticipating a similar trend here in the Gulf region, with positive indications of interest in our meetings with Gulf-based institutional and ultra high net worth investors to increasing their weighting to hedge funds, as they look to reposition portfolios for stronger returns."

"Our 13 year track record, as well as strong returns of 12.3 percent in the first six months of 2009 coupled with innovative risk management, is positioning us well with Gulf investors, as investor confidence is returning," said Khalid Al-Rumaihi, Investcorp's head of institutional investments in the Gulf; Kazinform cites the Arab News.

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