Mubasher: Investcorp on Friday announced the completion of its acquisition and integration of the debt management business of 3i ‘3iDM’ from 3i Group plc, according to a recent statement.
The business, now recognised as Investcorp Credit Management ‘ICM’, adds $11 billion of assets under management, bringing the total to approximately $21.4 billion.
Investcorp said that the new entity will operate funds, which invest primarily in senior secured corporate debt issued by mid and large-cap corporates in Western Europe and the US.
“Last year we announced our ambitious strategy to grow assets under management to $25 billion in the medium term,” executive chairman of Investcorp Mohammed Alardhi said.
