Asset manager Investcorp Holdings’ China-backed Investcorp Golden Horizon fund is investing in three projects in the Middle East, primarily in Saudi Arabia and the UAE, CIO Rishi Kapoor told Bloomberg (watch, runtime: 2:46). Investments focus on the consumer services, healthcare, and business services sectors, though no further details were disclosed. The asset manager is targeting USD 750 mn for the fund.

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REFRESHER- Investcorp, which is backed by Abu Dhabi sovereign wealth fund Mubadala, launched a USD 1 bn investment fund in April, Investcorp Golden Horizon, to invest in high-growth companies in consumer, healthcare, logistics, and business services across the GCC area and China. China’s sovereign wealth fund the China Investment Corporation, and Investcorp Capital, alongside private investors from the GCC, are backing the fund.

The firm plans to expand its asset management portfolio from USD 53 to 100 bn, including global projects and Middle East-based investments, Kapoor tells Bloomberg. The firm also plans on capitalizing on more sovereign investors in the upcoming years.

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