The joint venture will actively target greenfield and brownfield social and core essential infrastructure assets in sectors including healthcare, education, utilities, social housing, smart cities, roads and rail.
Mohammed Alardhi, Executive Chairman of Investcorp, said: “Our joint initiative to invest in Gulf infrastructure projects is an exciting step forward for Investcorp and Aberdeen Standard Investments, and we are very pleased to welcome Sir Gerry as Chairman of the venture. Sir Gerry's leadership, combined with the alternative investment expertise of two established, leading global investment firms, will position the business strongly in what is an exciting stage in the region's development. “
Martin Gilbert, Co-Chief Executive of Aberdeen Standard Investments, added: “Having someone of Sir Gerry Grimstone’s stature and quality chairing this new joint venture shows just how significant this opportunity is for both Investcorp and Aberdeen Standard Investments. We are delighted our joint venture will benefit from his expertise, energy and experience.”
Sir Gerry Grimstone , commented: “I am delighted to be appointed Chairman of the joint venture. The long-term economic potential of GCC is unquestionable but rightly governments across the region recognise the need to build and improve their countries’ infrastructure. The private sector has a key role to play. Aberdeen Standard Investments’ and Investcorp’s experience and expertise can help to deliver these essential projects.”
About Sir Gerry Grimstone
Sir Gerry Grimstone served as Chairman of Standard Life Aberdeen for over 10 years from 2007 to December 2018. He currently co-chairs the privatisation and corporatisation workstream for the British and Saudi Governments under the UK-Saudi Arabia strategic partnership and is the Board Adviser to the Abu Dhabi Commercial Bank.
In the UK, Sir Gerry is the Lead Non-Executive on the Board of the Ministry of Defence, and a member of HM Treasury's Financial Services Trade and Investment Board. He is also an Independent Non-Executive Board Member of Deloitte North West Europe.
Gerry has held a number of Board appointments in the public and private sectors and has served as one of the UK’s Business Ambassadors. He was previously a senior investment banker at Schroders and ran businesses in London, New York and Asia Pacific. He specialised in mergers and acquisitions and capital-raising for major companies worldwide. Prior to that, he was an official in HM Treasury where he was responsible for privatisation and policy towards state-owned enterprises.
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 four lines of business: private equity, real estate, absolute return investments and credit management.
As at December 31, 2018, the Investcorp Group had US$ 22.5 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 600 commercial and residential real estate investments in the US and Europe, for in excess of US $59 billion in transaction value.
Investcorp employs approximately 400 people across its offices in Bahrain, New York, London, 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 Aberdeen Standard Investments
- Aberdeen Standard Investments (ASI) is a leading global asset manager dedicated to creating long-term value for our clients, and is a brand of the investment businesses of Aberdeen Asset Management and Standard Life Investments.
- With over 1,000 investment professionals we manage £557.1 billion (US$735.5 billion, as at 30 June 2018) of assets worldwide. We have clients in 80 countries supported by 50 relationship offices. This ensures we are close to our clients and the markets in which they invest.
- We are high-conviction; long-term investors who believe teamwork and collaboration are the key to delivering repeatable, superior investment performance. We are resolute in our commitment to active asset management.
- ASI is the asset management business of Standard Life Aberdeen plc, one of the world’s largest investment companies.
- Standard Life Aberdeen plc is headquartered in Scotland. It has around 1.2 million shareholders and is listed on the London Stock Exchange. The Standard Life Aberdeen group was formed by the merger of Standard Life plc and Aberdeen Asset Management PLC on 14 August 2017.
Firas El Amine
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© Press Release 2019