Investcorp to strengthen US presence with $526m venture

Bahrain News Agency

Bahrain’s alternative asset manager, Investcorp, has unveiled a new $526 million venture to acquire industrial real estate assets in the United States.

The venture has been set up with two unidentified sovereign wealth funds, mirroring a similar strategy launched in November 2021.

The three entities have committed over $1 billion of investment over the past 2.5 years in the industrial real estate sector.

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“This commitment by two of the world’s most reputable sovereign wealth funds underscores the deep trust in our real estate platform and teams,” Investcorp executive chairman Mohammed Alardhi said in a statement.

He said that the company remains strategically focused on maximising value in the US market, offering robust growth opportunities for global investors and shareholders. 

Investcorp’s industrial real estate holdings in the US is valued at $5.1 billion across 43 million square feet.  

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“The US industrial sector continues to exhibit strong fundamentals. We continue to see attractive opportunities to expand our investments in the last-mile subset,” said Herb Myers, co-head of real estate, US, for Investcorp. 

E-commerce, US fiscal policy and government spending continue to create record demand for last-mile facilities near large and growing population centres, he said, adding the assets targeted remain largely insulated from the supply issues impacting big-box industrial warehouses.

Since 1996, Investcorp has acquired over 1,300 properties with a total value of over $25 billion.

The US real estate strategy focuses on the industrial and residential markets, making up 98 percent of the company’s $9.2 billion US portfolio.