Middle East investment manager Investcorp has acquired a 50% stake in the global infrastructure business of US investment company Corsair Capital.
The rebranded Investcorp Corsair Infrastructure Partners will be jointly owned by both parties and continue to be led by Corsair partner and head of infrastructure Hari Rajan.
The business will continue to manage its existing funds and investments, and will retain its existing team based in New York, London, Madrid and Sydney.
The platform manages 25 portfolio assets worth about US$4.8bn (€4.5bn), including global airport developer Vantage Airport Group, container terminal DP World Australia and Spanish toll road operator Itínere. It is also a financial sponsor of the redevelopments of John F Kennedy International Airport Terminal 6 and LaGuardia Airport Terminal B in New York.
Last year, Investcorp said it had established a North American infrastructure platform after hiring Michael Ryder, the former head of Americas at OMERS Infrastructure. Ryder went on to join Igneo Infrastructure Partners.
Investcorp Corsair said it would seek to capitalise on the strong and growing demand for infrastructure assets around the world, and on the private markets experience of its two owners.
Rajan said: “Investcorp Corsair will remain optimally positioned to drive strong growth and generate meaningful value for our stakeholders, with a particular focus on transportation, logistics and related subsectors.
“Moving forward with the support of Investcorp, we remain committed to seeking out long-term opportunities where we and our platform companies can play an active role in supporting economic growth in the communities that we serve by promoting mobility, access, trade and sustainability.”
Mohammed Alardhi, executive chairman of Investcorp, said: “This investment enhances our strategic capabilities in the global infrastructure sector. We recognise Investcorp Corsair’s potential as a driving force for economic growth.
Hazem Ben-Gacem, Investcorp’s co-CEO, said: “Infrastructure investing is one of the most important private markets investment asset classes over the coming decades. I am confident that Investcorp Corsair will evolve to be the leading provider of infrastructure investment opportunities to investors globally.”
Ignacio Jayanti, CEO of Corsair, said: “The demand for high-quality, global infrastructure assets has never been greater than it is today. Investcorp is the ideal partner to take this business forward and pursue the growing global opportunity set that we see in the infrastructure investment arena.”
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