Manama: Investcorp delivered a strong 25% growth in net income and a very significant 84% growth in fully diluted earnings per share over the prior year. The net income for year 2014 was $312 million (FY13: $70 per ordinary share) and a return on average equity of 16%. Investcorp returned approximately $1.3 billion in proceeds from realizations and distributions during the year.
The shareholders of Investcorp during the ordinary general meeting (AGM) held at the Firm’s Bahrain Headquarters on Monday ratified the financial statement for the year end on 30 June, 2014.
“Investcorp was established in 1982 with a clearly defined mission to act as a bridge between surplus funds generated in the Gulf region and alternative investment opportunities on both sides of the Atlantic,” Nemir Kirdar, Executive Chairman and CEO said.
“Its aim was to be a world-class organization, global in its outlook, attitude and culture, exemplifying the highest standards of financial industry and generating attractive returns for its stakeholders,” he added.
Investcorp, a leading provider and manager of alternative investment products, with more than $11 billion of assets under management, said the 2014 fiscal year marked five consecutive years of strong performance for Investcorp, reflecting a sustained and robust recovery from the financial crisis of 2008-2009. Since the end of FY09, Investcorp has seen its book value per ordinary share grow by 64%, while delivering aggregate earnings of $401 per ordinary share and an average return on equity of 11.4% per annum.
Investcorp is a leading provider and manager of alternative investment products and is publicly traded on the Bahrain Bourse (INVCORP). The Investcorp Group has offices in the Kingdom of Bahrain, New York, London, the Kingdom of Saudi Arabia and Abu Dhabi. Investcorp has three business areas: corporate investment in the US, Europe and the Gulf, real estate investment in the US and global hedge funds. As at June 30, 2014, Investcorp had $11.4 billion in total assets under management.