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Fund I received capital commitments from blue-chip institutional investors, including pension plans, family offices, private wealth funds, and an insurance company across North America, Europe, and the Gulf region, said a media release from the Manama, Bahrain-based alternative assets manager.

"We have a long and established history of investing in North America mid-market services companies, and we look forward to continuing to broaden and deepen our institutional investor base as this strategy continues to scale," said Mohammed Alardhi, Executive Chairman, Investcorp. "We are grateful for the trust that our institutional investors have placed in us during this time of greater uncertainty and a more challenging capital raising environment."

The global investment manager said that Fund I currently has a strong portfolio of seven investments in companies across the strategy's core business services verticals, which align with the team's deep domain knowledge and expertise.

"The investment strategy is focused on family- and founder-owned business across six subsectors including tech-enabled, knowledge & professional, data & information, supply chain, industry, and specialty consumer services. Investcorp targets companies that demonstrate resilience while also being well-positioned for market growth through multiple value creation levers," the release noted.

"We are delighted for our North American PE team reaching this important milestone and look forward to continuing our long history of forging strong partnerships with our investors and delivering quality investment opportunities as our capital base continues to grow and diversify," said Laura Coquis, Global Head of Institutional Capital Raising.

Investcorp's North America Private Equity group has been investing in North American mid-market businesses for over 40 years and has completed approximately 70 transactions, deploying more than $22 billion in transaction value since inception.

Investcorp manages $50 billion in assets, including assets managed by third-party managers. Investcorp has 14 offices in the US, Europe, GCC, and Asia, including, India, China, Japan, and Singapore, and employs approximately 500 people from 50 nationalities globally.