Investcorp buys US real estate assets
Manama, December 18, 2012
Investcorp, a Bahrain-based alternative asset manager, said on Tuesday it acquired five real estate assets in the United States for around $100 million.
The property purchase, which includes 1,900 residential units in Houston, Texas, is the company's second real estate investment of the year in the US after buying four properties in the state earlier this year.
The investment firm had in November bought Danish luxury retailer Georg Jensen from private equity firm Axcel Capital Partners for $140 million and sold truck and trailer parts distributor FleetPride to TPG for over $1 billion.
The Manama-based firm had $11.5 billion in assets under management on June 30. It raised $250 million in October from a five-year international bond issue. – Reuters