Bahrain-listed Investcorp, an alternative investment management firm that counts Abu Dhabi’s Mubadala Investment Company as its biggest shareholder, appointed Yusef Al Yusef as chief representative officer of its Abu Dhabi office.
Mr Al Yusef’s appointment, which is subject to regulatory approvals, is in conjunction with his present role as managing director of placement and relationship management, Investcorp said in a statement on Sunday.
Mr Al Yusef, who joined Investcorp in 2005, will as part of his new role oversee and promote the firm’s presence in the UAE.
“[Mr Al Yusef] has proven himself to be a very capable, driven and dedicated ambassador and will reinforce our presence in Abu Dhabi,” said Mohammed Alardhi, executive chairman of Investcorp.
Investcorp is on an acquisition spree to nearly double its assets under management to reach $50bn in the medium-term from $22.6bn as of the end of June. Earlier this month it acquired a minority stake in Swiss-regulated Banque Paris Bertrand Sturdza for an undisclosed sum. It also purchased its largest US warehouse portfolio, for approximately $300m.
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Also this month, Investcorp agreed a partnership with China Everbright, a Hong Kong-listed sovereign-backed asset manager, to invest up to $150m in the second round of the China Everbright Limited New Economy Fund, plus an additional co-investment of up to $100m.
Last week the company added Sir Michael Fallon, the UK’s former Secretary of State for Defense, to its international advisory board.