Investcorp raises $1.22bn for latest North American private equity fund
Investcorp has raised $1.22bn for its latest North American private equity fund, slightly exceeding its target despite a challenging fundraising environment, according to a report by Bloomberg.
Investcorp has successfully raised $1.22 billion for its latest North American private equity fund, surpassing its target despite a tough fundraising climate, according to Bloomberg. The Bahrain-based alternative asset manager attracted commitments from both current and new institutional investors worldwide for the strategy, which focuses on middle-market companies in business, professional, and commercial services.
The fund typically invests in firms generating between $10 million and $50 million in earnings. Steve Miller, co-head of North American private equity at Investcorp, revealed that the firm secured the commitments despite challenging conditions for alternative asset managers looking for new capital. Notably, Investcorp raised a similar sum for its previous fund.
The company manages around $62 billion in assets, including capital overseen by third-party managers, and has established a substantial presence in the US, its largest market. Investcorp's North American private equity team has completed over 75 investments in middle-market businesses, representing more than $25 billion in transaction value since its inception.
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