Canadian global investment group Caisse de dépôt et placement du Québec (CDPQ) plans to acquire a significant stake in communications and advisory provider ICR, which is backed by Bahrain-based Investcorp.
Investcorp, the alternative asset manager that counts Mubadala Investment Company as its biggest shareholder, owns a minority stake in ICR and will continue as an investor in the company, Tarek AlMahjoub, Head of UAE and Oman for Investcorp’s Private Wealth, said in a statement on Tuesday.
“ICR is a market leader in strategic communications and advisory solutions. We believe that CDPQ’s investment will add further depth to what the firm can offer and we look forward to partner with them as they enter a new chapter of growth,” Mr AlMahjoub said.
CDPQ has created a $250 million investment fund to be deployed over four years to increase diversity and inclusion in companies in Quebec and Canada, according to its website.
Investcorp did not disclose the value of the deal and said that the transaction is subject to customary regulatory approvals.
The fund manager invested in ICR – the US communications and advisory services company – in 2018 for an undisclosed sum to focus on accelerating the company’s organic growth, identifying complementary acquisitions and expanding the business globally.
ICR provides services across investor relations, public relations, transaction advisory, environmental, social and governance and digital branding, Investcorp said.
With assets worth more than $37 billion under management, Investcorp is looking to double its asset base to about $75bn over the next five to seven years, the company’s co-chief executive, Rishi Kapoor, told The National in July.
Investcorp’s US portfolio is expected to account for about 45 per cent to 50 per cent of its assets under management in that period, he said at the time.
Established more than four decades ago, Investcorp has grown to become one of the leading alternative asset management companies in the region, investing across a range of asset classes and countries. The company has been on an acquisition spree during the pandemic to capitalise on lower asset valuations and is bullish on the prospects of growth for its portfolio.
The candidates
Dr Ayham Ammora, scientist and business executive
Ali Azeem, business leader
Tony Booth, professor of education
Lord Browne, former BP chief executive
Dr Mohamed El-Erian, economist
Professor Wyn Evans, astrophysicist
Dr Mark Mann, scientist
Gina MIller, anti-Brexit campaigner
Lord Smith, former Cabinet minister
Sandi Toksvig, broadcaster
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UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
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What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
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Is it worth it? We put cheesecake frap to the test.
The verdict from the nutritionists is damning. But does a cheesecake frappuccino taste good enough to merit the indulgence?
My advice is to only go there if you have unusually sweet tooth. I like my puddings, but this was a bit much even for me. The first hit is a winner, but it's downhill, slowly, from there. Each sip is a little less satisfying than the last, and maybe it was just all that sugar, but it isn't long before the rush is replaced by a creeping remorse. And half of the thing is still left.
The caramel version is far superior to the blueberry, too. If someone put a full caramel cheesecake through a liquidiser and scooped out the contents, it would probably taste something like this. Blueberry, on the other hand, has more of an artificial taste. It's like someone has tried to invent this drink in a lab, and while early results were promising, they're still in the testing phase. It isn't terrible, but something isn't quite right either.
So if you want an experience, go for a small, and opt for the caramel. But if you want a cheesecake, it's probably more satisfying, and not quite as unhealthy, to just order the real thing.
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Started: December 2016
Founder: Ibrahim Kamalmaz
Based: UAE
Sector: Finance / legal
Size: 3 employees, pre-revenue
Stage: Early stage
Investors: Founder's friends and Family
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Memory: 8/12GB RAM
Storage: 128/256/512GB/1TB
Platform: Android 12
Main camera: quad 12MP ultra-wide f/2.2, 108MP wide f/1.8, 10MP telephoto f/4.9, 10MP telephoto 2.4; Space Zoom up to 100x, auto HDR, expert RAW
Video: 8K@24fps, 4K@60fps, full-HD@60fps, HD@30fps, super slo-mo@960fps
Front camera: 40MP f/2.2
Battery: 5000mAh, fast wireless charging 2.0 Wireless PowerShare
Connectivity: 5G, Wi-Fi, Bluetooth 5.2, NFC
I/O: USB-C
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Colours: burgundy, green, phantom black, phantom white, graphite, sky blue, red
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2. They can be created when massive stars collapse under their own weight
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Key figures in the life of the fort
Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.
Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.
Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.
Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.
Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.
Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.
Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.
Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.
Sources: Jayanti Maitra, www.adach.ae
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