Investcorp, the Bahrain-based alternative asset manager, appointed veteran investor Mark Mobius as an adviser to its India business as it seeks to expand its presence in Asia.
As a founding partner of Mobius Capital Partners and formerly the head of emerging markets at Franklin Templeton, Mr Mobius has spent over 40 years working and investing in emerging and frontier markets and has been in charge of actively managed funds totalling more than $50 billion in assets, a statement said.
“As we look to accelerate our growth in India, Mark’s wisdom, foresight and years of invaluable financial acumen will be crucial to our journey,” said Rishi Kapoor, co-chief executive at Investcorp.
“As several of Investcorp’s Indian portfolio companies may exit via public markets over the next few years, we will benefit from Mark’s unparalleled insights as a leading public equities investor.”
Mr Mobius, who said he kept most of his own money in Templeton funds, is known for predicting the start of a bull market in 2009, picking up bargains during the Asian financial crisis in 1997, buying Russian stocks during the panic selling in 1998 and identifying Africa as a promising frontier market.
“My idea of a bargain is, by the way, not very complicated,” he wrote in his book Passport to Profits. “I buy stocks in companies with good growth potential over a five-year period.”
Prior to establishing Mobius Capital Partners, Mr Mobius was with Franklin Templeton for over 30 years. During his tenure, the group expanded its assets under management from $100m to over $40bn and launched several emerging market and frontier funds focusing on Asia, Latin America, Africa and Eastern Europe.
“I am delighted to be a part of Investcorp’s India advisory board. The firm has performed incredibly well and has delivered beyond expectations,” Mr Mobius said.
“Indian entrepreneurs and the market, both, have wonderful potential … I look forward to working with the team in exploring and expanding investment opportunities in India.”
Mr Mobius's appointment comes as Investcorp, which lists Mubadala Investment Company as its biggest shareholder, aims to expand its presence in Asia's third-largest economy.
The company plans to double its private equity investments in India in the next two years with a particular focus on health care and pharmaceuticals, consumer tech and FinTech, Gaurav Sharma, head of private equity at Investcorp India, told The National in an interview last year.
Its investments in the world's second most populous country include logistics start-up Xpressbees, e-commerce platform FreshToHome and healthcare company NephroPlus, among others. It led a $17 million investment round in Indian packaged food and beverage company Wingreens Farms in November.
Earlier this month, it invested roughly $17.5m in India's V-Ensure Pharma Technologies, marking its first investment in the South Asian country's pharmaceutical sector.
Investcorp had $40.4bn in total assets under management as of December 31, 2021, including assets managed by third party managers.
