Tuesday, Dec 06, 2011
DUBAI (Zawya Dow Jones)--Bahrain-based Investcorp Tuesday said it completed the sale of its U.S. portfolio company Accuity Holdings Inc. for $530 million.
Investcorp has distributed to its clients $1.5 billion in proceeds in the past 18 months resulting from four exits, it said in an emailed statement.
The private equity firm said it sold Accuity to a strategic buyer, without being more specific.
Investcorp invests funds on behalf of wealthy Middle Eastern investors buying assets and companies across Europe, the U.S. and other Middle Eastern countries. As of June 30, Investcorp had $11.8 billion in assets under management.
-By Nicolas Parasie, Dow Jones Newswires; +9714 446-1681; nicolas.parasie@dowjones.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
06-12-11 0929GMT
