New Delhi, March 6 -- Investcorp Strategic Capital Group (ISCG), the GP staking arm of global alternative investment firm Investcorp, has marked the final close of its second vehicle in the series collecting $1.25 billion in commitments.
Investcorp Strategic Capital Partners II has secured $1.1 billion of fund commitments and an additional $155 million of committed co-investment capital. The corpus is about 75% higher than $800 million (including co-investment capital) raised by its predecessor from limited partners (LPs) in 2022.
The Bahrain-based investment firm had launched ISCG in late 2018 to invest in mid-sized alternative asset managers to expand the scope of its private equity and venture capital investments globally. Through the unit, it acquires minority equity stakes in alternative asset managers, including private equity, private debt, real estate, venture capital and hedge fund managers.
The latest fund takes ISCG's assets under management to more than $2.4 billion, the firm said in a statement.
"ISCP II's successful close reflects the strength of our strategy and the trust we have built with investors globally. The GP staking strategy has become a core component of investor allocations, and we are excited to continue as an active, hands-on partner to our portfolio," said Anthony Maniscalco, managing partner and head of ISCG.
The vehicle received backing from existing LPs, with the majority of ISCP I investors increasing or maintaining their commitments, Investcorp said. The firm also diversified its LP base in the latest fund. Its LPs include insurance companies and private wealth channels in the US, Asia, Europe, Latin America and the Gulf Cooperation Council (GCC).
The firm backs high-growth private capital managers in the middle market that manage between $1 billion and $10 billion in assets.
ISCG's portfolio includes firms such as London-based global investment manager Warwick Capital Partners, and New York-based independent private equity firm Eagle Tree Capital, among others.
The second vehicle has made three investments so far, with a fourth expected to close later this year. These include US middle-market PE firm Monomoy Capital Partners, European mid-market investor MML Capital, New York-based secondaries platform focused on private credit Banner Ridge Partners, and Paris-based Vauban Infrastructure Partners.
Founded in 1982, Investcorp is one of the leading alternative asset management companies in the region. It operates 14 offices across the US, Europe, the GCC, and Asia, including India, China, Japan, and Singapore.
Published by HT Digital Content Services with permission from VC Circle.