Bahrain-based alternative asset manager acquires 1,900 residential units in Texas
Investcorp, a Bahrain-based alternative asset manager, said on Tuesday it acquired five real estate assets in the United States for around US$100m.
The property purchase, which includes 1,900 residential units in Houston, Texas, is the company's second real estate investment in the United States in 2012 after buying four properties in the state earlier this year.
The investment firm had in November bought Danish luxury retailer Georg Jensen from private equity firm Axcel Capital Partners for US$140m and sold truck and trailer parts distributor FleetPride to TPG for over US$1bn.
The Manama-based firm had US$11.5bn in assets under management on June 30. It raised US$250m in October from a five-year international bond issue.