By Staff writer
Firm saw more than $1bn in proceeds from alternative investments in fiscal year
the Bahrain-based alternative investment manager, on Wednesday said its net
income for the fiscal year 2011 rose 37 percent aided by profitable portfolio
exits and strong performance at its corporate and real estate investment
company, which floated luxury brands Gucci and Tiffany & Co, saw net income
for fiscal year ending June 30 rise to $140.3m from $102.2m for the year-ago period,
it said in a statement.
said it realised more than $1bn in proceeds from alternative investments during
the fiscal year and its asset-based income, which includes its hedge funds,
corporate and real estate investments, rose 52 percent to $216.2m.
company's board has recommended resumption of dividend payments to shareholders
at the rate of $15 per share, Investcorp said.
March, Investcorp sold quality and safety services firm Moody International for
$730m after it purchased the 2,500 employee business in 2007 for $311m.
provisions for the year fell to $2.1m from $11.7m a year-ago, while operating
expenses rose to $215.2m from $188.8m, the statement said.
in June acquired a 176-room hotel property in Los Angeles, in a deal
valued at $40m.
The deal marked the company’s fourth US property acquisition
this year, following the purchase of Coral Palm Plaza in Florida in April.
bought a majority stake in British online booking company Eviivo in May,
in a deal valued at $49.1m.