Investcorp's acquisition of 3i Group debt management subsidiary brings assets to $21.4B

Published March 5th, 2017 - 08:00 GMT
The ICM is a leading global credit investment platform, managing funds which invest primarily in senior secured corporate debt issued by mid and large-cap corporates in Western Europe and the US. (File photo)
The ICM is a leading global credit investment platform, managing funds which invest primarily in senior secured corporate debt issued by mid and large-cap corporates in Western Europe and the US. (File photo)

Bahrain-based alternative investment fund Investcorp said it has completed the acquisition and integration of “3iDM,” the debt management business of 3i Group.

The business, now recognized as Investcorp Credit Management (ICM), adds $11 billion of assets under management, bringing the total to $21.4 billion.

The ICM is a leading global credit investment platform, managing funds which invest primarily in senior secured corporate debt issued by mid and large-cap corporates in Western Europe and the US.

The business has a strong track record of consistent performance and growth, employing approximately 50 people in London, New York and Singapore.

On the acquisition, Mohammed Alardhi, the executive chairman of Investcorp, said it was a strategic move for Investcorp.

"Last year we announced our ambitious strategy to grow assets under management to $25 billion in the medium term. 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)," he noted.
 
"The integration of ICM is a natural fit with our global vision of providing our clients with a diversified range of alternative investment opportunities across different geographies. The next chapter of our corporate narrative starts today, with an even more substantial market stronghold and enhanced competitive edge," he added.

Following the integration of 3i’s Debt Management Business, the Bahrain-based group has established credit management offering.

Jeremy Ghose, who will continue to head the Investcorp Credit Management business, said: "Investcorp has a long, impressive history and track record of delivering the right products to its strong client base."

"We are excited about our future as Investcorp Credit Management and the opportunities that exist for our investors and colleagues as part of a well-established, diverse global alternative investment manager," he added.   

John Fraser, the head of ICM in the US, said: "We are delighted to have now formally joined Investcorp and integrated our team into the wider Investcorp business."

"This is an important milestone for us all. I have full confidence that the combination of Investcorp’s reputation and resources and our experience, expertise and track record will allow us together to build on our past success. We look forward to expanding our platform and product offering with such a well-regarded firm, he added.-


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