Investcorp signs landmark structured secondaries transaction with HarbourVest on $1bn MENA private equity portfolio

Partnership marks entrance of global institutional investor into regional companies

Investcorp signs landmark structured secondaries transaction with HarbourVest on $1bn MENA private equity portfolio

Bahrain – Investcorp Group (“Investcorp”), a leading global provider and manager of alternative investment products, today announced that it has signed a structured secondary transaction with HarbourVest to provide liquidity for Investcorp’s existing $866 million MENA private equity investment portfolio (“the Portfolio”) with up to an additional $70 million of new capital for follow-ons and up to a further $60 million for new investments. This transaction is subject to the receipt of requisite investor elections, and relevant regulatory approvals and other customary closing conditions.

Investcorp will maintain an interest in the Portfolio and Investcorp’s MENA Private Equity team will continue to manage the Portfolio.

Hazem Ben-Gacem, Investcorp’s Co-Chief Executive Officer, said: “This milestone deal is a testament to the attractiveness of Investcorp’s MENA portfolio to global institutional investors, our ability to leverage our strong relationship with an existing partner, HarbourVest, and to our innovative approach to creating value for all stakeholder groups. Our experience through secondary market transactions and creation of a buyout fund in Europe gives us credibility and confidence to be the pioneers of this investment strategy in the region.”

David Atterbury, Managing Director, HarbourVest Partners, said: “We are pleased to continue the strong partnership we have developed with Investcorp. This complex secondary transaction highlights our ability to work with partners to create innovative liquidity solutions that can benefit multiple parties.”

In January 2019, Investcorp signed two similar deals for its European Private Equity assets. One was the sale of two portfolio companies in Investcorp Technology Partners Fund to a continuation vehicle supported by HarbourVest. The second was a secondary private equity transaction that included the sale of some of its European private equity portfolio to Coller Capital and the creation of a new buyout fund.


About Investcorp

Investcorp is a leading global manager of alternative investments. Led by a new vision, Investcorp has embarked on an ambitious, albeit prudent, growth strategy. The Firm continues to focus on generating value through a disciplined investment approach in six lines of business: private equity, real estate, absolute return investments, infrastructure, credit management, and strategic capital.

As at June 30, 2019, the Investcorp Group had US $28.2 billion in total AUM, including assets managed by third party managers and assets subject to a non-discretionary advisory mandate where Investcorp receives fees calculated on the basis of AUM.

Since its inception in 1982, Investcorp has made over 185 Private Equity deals in the U.S., Europe, the Middle East and North Africa region and Asia, across a range of sectors including retail and consumer products, technology, business services and industrials, and more than 650 commercial and residential real estate investments in the US and Europe, for in excess of US $60 billion in transaction value.

Investcorp employs approximately 430 people across its offices in New York, London, Bahrain, Abu Dhabi, Riyadh, Doha, Mumbai and Singapore. For further information, including our most recent periodic financial statements, which details our assets under management, please visit:

About HarbourVest

HarbourVest is an independent, global private markets investment specialist with 36 years of experience and more than $64 billion in assets under management, as of June 30, 2019. The Firm’s powerful global platform offers clients investment opportunities through primary fund investments, secondary investments, and direct co-investments in commingled funds or separately managed accounts. HarbourVest has more than 500 employees, including more than 125 investment professionals across Asia, Europe, and the Americas. This global team has committed more than $37 billion to newly-formed funds, completed over $21 billion in secondary purchases, and invested over $11 billion directly in operating companies. Partnering with HarbourVest, clients have access to customized solutions, longstanding relationships, actionable insights, and proven results.

© Press Release 2019

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