Investcorp, which manages alternative investment products, Wednesday said it has started operations in India by acquiring private equity and real estate investment management business of IDFC Alternatives.
The acquisition, already approved by the Securities and Exchange Board of India, is expected to close on January 31, 2019.
"This transaction will mark Investcorp's entry into India and is in line with the firm's long-term strategy of expanding its investment footprint and client franchise globally," the company said in a statement.
The combined assets under management (AUM) of the Indian private equity and realty estate businesses are about USD 430 million.
The PE business currently has two active funds. The team focuses on investing in consumption driven businesses within the healthcare, consumer products, financial services, food and agriculture, media and telecom sectors.
The real estate business also has two active funds. The current funds provide structured senior credit within the residential real estate sector with a focus on projects in Mumbai, Bangalore, Hyderabad, Chennai and the National Capital Region.
Investcorp is a global provider and manager of alternative investments, offering such investments to its high-net-worth private and institutional clients on a global basis. As on June 30, 2018, the Investcorp Group had USD 22.6 billion in total AUM. It employs about 390 people across its offices in New York, London, Bahrain, Abu Dhabi, Riyadh, Doha, and Singapore.
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