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Alternative Market Briefing

Investcorp teams up with others to invest $500m in Asian food sector

Friday, November 08, 2019

Laxman Pai, Opalesque Asia:

Bahrain-based global alternative investments manager Investcorp has launched a private equity fund with Chinese partners targeting $500 million of deals in the Asian food industry.

The Bahraini investment manager joined forces with state-owned China Resources and Fung Strategic Holdings, a member of Hong Kong-based Fung Investments, to launch the fund, which will be the first dedicated platform targeting Asia's food industry.

According to a press release from Investcorp, which has $28.2 billion worth of assets under management, the new platform will be jointly owned and managed by the three founding partners, operating out of their respective offices in Beijing, Hong Kong and Singapore with $300 million of capital already committed by Investcorp, China Resources and the Fung Investments.

The investment platform will primarily focus on capturing the growth and market opportunities of China's highly fragmented food sector, said the Middle Eastern fund that counts Mubadala Investment Company as its biggest shareholder.

Together, Investcorp, China Resources and Fung Investments intend to construct a diversified portfolio of investments to support fast-growing businesses with anticipated higher margins and defensive franchises, as well as new premium brands in niche sectors such as condiments, packaged food, and healthy snacks.

Hazem Ben-Gacem, Co-CEO of Investcorp, said: "Investcorp has been actively growing our presence in Asia as......................

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