Investcorp and HK firm sign deal

Investcorp, the Bahrain-based alternative investment manager, and China Everbright Limited, a Hong Kong (HK)-based alternative investment firm, announced on Wednesday a new milestone in their existing partnership by combining their investment teams investing in the Chinese technology sector.

The combined team and investment committee will jointly manage the China Everbright New Economy Fund I. In addition, Investcorp and China Everbright intend to explore the opportunity to establish a successor private equity fund, jointly managed by the two parties, to further access China’s technology sector.

This joint partnership will draw on Investcorp’s three decades of experience investing globally in the technology sector, and China Everbright’s deep-rooted relationships and expertise in the China market.

China is experiencing accelerated growth in the technology sector, one that has attracted the majority of private equity investment capital and we believe continues to be attractive as companies find value accretive growth through novel, nuanced or niche differentiating factors that aim to boost their competitive edge and increases their respective market share. Technology firms across the spectrum, from e-commerce and internet services, to smart retail and artificial intelligence to b2b software solutions will be considered as key targets for the team.

Commenting on the partnership, Hazem Ben-Gacem, Co-CEO of Investcorp, said: “This is our most significant step so far towards expanding our footprint into the fastest growing economy in the world, China, and is in line with our strategy of growing AUM through global expansion. We believe our partnership with Everbright will help grow our investments in China and specifically in the technology sector. Our success in investing in technology companies in Europe positions us favorably to be a value-add investor to growth companies in that sector.

WAM/Agencies