MANAMA: Investcorp, a leading provider and manager of alternative investment products, has reported a very strong performance in 2017.
Mohammed Al-Shroogi, Co-CEO confirmed that the Firm is well positioned to deliver on its ambitious strategy of growth following the strong set of results reported in its fiscal year 2017.
Earlier, Investcorp announced its full year FY17 financial results, recording a 34% YoY increase in profit to $120.3 million. Key performance highlights included assets under management doubling to $21.3 billion, and distributions to Investcorp and its clients more than doubling to $3.4 billion, the highest level in the Firm’s history.
Al-Shroogi was speaking as he had givenan update on Investcorp’s business and financial performance during a press conference following the Firm’s Extraordinary General Meeting (EGM).
“We have recorded a transformative year for Investcorp in our fiscal year 2017. The Firm doubled in size in terms of AUM and reported impressive results, both in terms of financial performance and in distributions to Investcorp and its clients. We have introduced a new business line – branded as Investcorp Credit Management (ICM), established a new Real Estate investment team in Europe, and launched our fourth Technology Fund. We have also made significant progress in our efforts to diversify our investor base geographically and by asset class and now have our first on-the-ground presence in Asia.” Mohammed Al-Shroogi, Investcorp’s Co-CEO, said.
Al-Shroogi emphasised that Investcorp is well on track with its strategy for the next phase of its growth, and is now well on the way to becoming a truly global institution with a global client-base spanning the Gulf, the US, Europe and Asia.
“We believe this diversification will put Investcorp on a stronger footing, ultimately allowing us to better serve the needs of our clients anywhere in the world.”