Investcorp, the Middle East’s largest alternative investment firm, is exploring the possibility of a public listing within the next three to five years as it targets doubling its assets under management (AUM) to $100bn, according to a report by Reuters.
The report cites Rishi Kapoor, the firm’s Vice Chairman and Chief Investment Officer of Investcorp, as saying during the Reuters Global Markets Forum at the World Economic Forum in Davos, Switzerland, that both London and New York are under consideration as potential listing venues.
“Three to five years is an appropriate timeline for us to build scale,” Kapoor said. “This would position us well to create liquidity or crystallise value for our shareholders.”
Founded in Bahrain in 1982, Investcorp currently manages $55bn in assets and has a legacy of taking luxury brands, like Gucci and Tiffany, public. Over the years, it has diversified into private credit and other asset classes.
In 2023, Investcorp listed an investment vehicle on the Abu Dhabi stock exchange, signalling a shift toward innovative pathways for growth.
Beyond scaling its AUM, Investcorp has set its sights on tapping into the massive US 401(k) retirement savings market, estimated to be worth $12tn with Kapoor expressing optimism about participating directly or through partnerships if regulatory changes allow for the inclusion of alternative investments in 401(k) plans.
“The democratisation of private market assets is a natural progression,” he said. “The next evolution would be integrating these assets into the 401(k) system.
“Even if the percentage allocation is small, given the size of the 401(k) market, the dollar figures could be significant,” Kapoor noted.
