Aberdeen Standard Investments (ASI) and alternative investment manager Investcorp have partnered to invest in social and core infrastructure projects in Gulf Cooperation Council (GCC) countries.
The new joint venture will target greenfield and brownfield social and core essential infrastructure assets in sectors including healthcare, education, utilities, social housing, smart cities, roads and rail.
Mohammed Alardhi, an executive chairman of Investcorp, said: “This joint venture is a milestone for Investcorp and is in line with our strategy of diversifying our offerings to clients.”
Alardhi said Investcorp’s investment objectives in the GCC are aligned with government initiatives, and by investing in critical infrastructure the company is supporting the growth of those economies.
“Our deep knowledge of the GCC markets coupled with ASI’s expertise and strong track record in investing in infrastructure projects serves to strengthen our position as a crucial private investor in the GCC region.”
Hazem Ben-Gacem, Investcorp’s co-CEO said: “Infrastructure is a unique and highly sought-after investment, especially in times of global economic uncertainty, because it is typically characterized by stable and predictable long-term cash flow.
“Moreover, there is a healthy pipeline of infrastructure projects and deals in the GCC, which means there is a potential to generate real value for those types of investment.”
Martin Gilbert, co-CEO of Aberdeen Standard Investments, said: “The partnership brings together ASI’s strong track record of over 20 years in concession and social infrastructure fund management with Investcorp’s excellent relationships and reputation in the Gulf as well as wider asset management expertise.”