Bahrain-based asset manager Investcorp will ramp up its investments in India to $5 billion in the next five years from just over $600 million at present, according to a Bloomberg report.

The company, which currently has $42.7 billion assets under management globally, is one of a number of investors currently seeking a foothold in the country.

Its plans include a new credit strategy, stronger emphasis on infrastructure deals and finding a target for its Investcorp India Acquisition Corp, which raised $259 million in a US IPO earlier this year, Alardi told Bloomberg.

Investcorp, which began operations in India in 2019, has investments in the country in consumer, healthcare, wellness, financial services with an overlay of technology, has made investments in India across consumer, healthcare, wellness and financial services, with an overlay of technology, according to Rishi Kapoor, the company’s co-chief executive officer.

The asset manager has been expanding holdings from the US to Asia as it seeks to reach assets of about $100 billion but delisted from the Bahrain stock exchange last year in a bid to be able to expand faster.

Kapoor described the company’s “sweet spot” for investments is between $75 million and $100 million, including for co-investments.

(Writing by Imogen Lillywhite; editing by Seban Scaria)