Font Size

- Aa +

Thu 20 Sep 2018 04:57 PM

Font Size

- Aa +

Bahrain's Investcorp makes first foray into China

The company has agreed to invest $250m into a Hong Kong-listed tech fund

Bahrain's Investcorp makes first foray into China

Bahrain-listed Investcorp will invest as much as $250 million in its first investment in China, the company announced this week.

Investcorp will partner with China Everbright Limited, a sovereign-backed cross border asset manager publicly listed on the Hong Kong Stock Exchange, to invest up to $150 million in the second round of the China Everbright Limited New Economy Fund.

The company has also agreed to an additional co-investment right of up to $100 million.

In the first round, the fund received an aggregate commitment of $313 million from other investors that has been deployed into Chinese technology companies working in a wide variety of segments including e-commerce, smart retail and artificial intelligence.

“Investcorp continues to execute its global expansion strategy in order to provide its clients, partners and stakeholders with access to a wider range of attractive investment opportunities worldwide,” said Investcorp executive chairman Mohammed Alardhi. “China is a pivotal pillar of the global economy and a critical component of a balanced global asset allocation strategy.”

The fund’s portfolio comprises investments in several high-profile companies in greater China, including one of the largest unlisted mobile e-commerce platforms in the world, one of the largest online-to-offline consumer services companies and a popular long-form online video platform.

For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.