Investcorp, the Bahraini alternative investment manager, appointed Frances Fragos Townsend, a former assistant to President George W. Bush for Homeland Security and Counterterrorism, to the firm’s international advisory board. Ms Townsend, the executive vice president for worldwide government, legal and business affairs at investment firm MacAndrews and Forbes, was hired as of August 1, Investcorp said in a statement on Wednesday. Ms Townsend "brings a wealth of knowledge and experience through her work in the US market, which has been, and continues to be, a core growth region for us,” Mohammed Alardhi, executive chairman of Investcorp, said. “As a forward looking firm, we continue to search for the best and most strategic counsel from a diverse range of relevant practice areas and look forward to welcoming Frances to our board.” Investcorp, in which Abu Dhabi's Mubadala Investment Company holds a 20 per cent stake, has been on an acquisition spree as the company aims to double its assets under management over the next three years. Established in 1982, it is one of the oldest Middle East private equity companies and manages about $28 billion (Dh102.8bn) of assets across private equity, real estate, absolute return investments and credit. Ms Townsend brings more than 25 years of international policy, legal and business strategy experience. In her role at MacAndrews & Forbes, which she joined in October 2010, she supported its portfolio companies’ growth, advising them on business development, legal and compliance issues. Previously, Ms Townsend was a corporate partner at international law firm Baker Botts. Earlier in her career, she served in the administrations of former presidents George H. W. Bush, Bill Clinton and George W. Bush. She served as Assistant to President George W. Bush for Homeland Security and Counterterrorism in 2005 until 2008 and as chair of the Homeland Security Council from 2004 to 2008. Ms Townsend also plays an active role in the oversight of companies across the public and private sector, serving as a director on the board of four public companies: Freeport McMoRan, Western Union, Scientific Games and SciPlay. "Investcorp has built an impressive global firm through its expansion to new geographies and investment strategies,” said Townsend. “I look forward to collaborating with its other board members and management team to continue working towards its ambitious growth plans in the years to come," Ms Townsend said. Investcorp’s international advisory board, chaired by Mr Alardhi, meets annually to provide advice and guidance to the firm. In August, the company posted a 5 per cent increase in full-year profit on higher fee income and record deal placement activity. Net income for the 12 months ending June 30 rose to $131 million year-on-year despite a global economic slowdown and rising trade and geopolitical tensions, Investcorp said.