Investcorp buys 50% of Corsair’s $5bn infrastructure business

Bahrain News Agency

Bahrain-based alternative investment firm Investcorp has acquired a 50 percent stake in the $4.8 billion infrastructure business of New York-based investment firm Corsair Capital.

The transaction was completed by establishing Investcorp Corsair Infrastructure Partners (Investcorp Corsair), a new entity jointly owned by the two companies, the Manama-headquartered company said in a statement.

The new entity comprises the existing funds of the infrastructure business, investments and teams, which will continue to focus on a scalable investment strategy in transportation, logistics and associated infrastructure subsectors.

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The statement said that Corsair’s head of infrastructure, Hari Rajan, will continue to lead the business as managing partner of Investcorp Corsair.

The team will remain based in New York, with additional presence in London, Madrid and Sydney.

“Infrastructure investing is one of the most important private markets investment asset classes over the coming decades,” said Hazem Ben-Gacem, Investcorp’s co-chief executive officer.

Corsair was the principal financial sponsor of the redevelopment works of Terminal 6 at John F. Kennedy International Airport and Terminal B at LaGuardia Airport in New York.

Investcorp earlier this month launched a $750 million climate fund, which Bahrain’s sovereign Mumtalakat Holding Company will anchor.

Abu Dhabi state fund Mubadala Investment Company acquired 20 perccent of Investcorp in 2017.