Mubasher: Investcorp has agreed to acquire the debt management business of 3i (3iDM) from UK based 3i Group PLC (3i).
The proposed transaction cost nears £222 million (approximately $271 million).
This agreement is expected to boost Investcorp's assets under management by $12 billion, bringing the total to approximately $23 billion.
In 2016, Investcorp said it was targeting growing assets under management to $25 billion in the medium term.
Investcorp noted that the transaction is subject to various regulatory approvals and is expected to close in the first half of 2017.
