Investcorp, an alternative investor, has completed an acquisition of the debt management business of 3i from 3i Group, which is based in London.
The business is now called Investcorp Credit Management and adds $11 billion (€10.4 billion) of assets under management to Investcorp, doubling the group’s total to about $21.4 billion.
Investcorp Credit Management invests primarily in senior secured corporate debt issued by mid and large-cap corporates in Western Europe and the US. It has around 50 people in London, New York and Singapore.
Investcorp is listed in Bahrain and since last year has planned to grow its assets under management to $25 billion.
Mohammed Alardhi, executive chairman of Investcorp, said: “We are firmly on track to achieve our goal as we continue to extend Investcorp’s existing product offerings across private equity, real estate, and alternative investment solutions [formerly hedge funds].”
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