Investcorp announces US$275 m first closing of Asia Food Brands Private Equity vehicle

TDT | Manama

Investcorp, a leading global alternative investments manager, announced reaching a US$275 million first close on its Asia food brands private equity platform jointly owned and managed by Investcorp, China Resources and Fung Strategic Holdings Ltd.

China Resources is one of the world’s largest owners and distributors of food brands in Greater China and Fung Strategic Holdings Limited, a member of Fung Investments, is the private investment arm of the families of Victor and William Fung.  

The platform primarily focuses on capturing the growth and market opportunities in Asia’s highly fragmented food sector. Together, the partners aim to invest in the branded condiments, packaged foods and healthy snacks sectors.  

Commenting, Mohammed Alardhi, Executive Chairman of Investcorp, commented: “We are encouraged by the growth factors that we see in the food brand sector in Asia, which we believe offers attractive and defensive qualities in the current environment with consumers increasingly seeking access to trusted quality food products.”  

Explaining, Hazem BenGacem, Co-CEO of Investcorp and the Chairman of the vehicle’s investment committee, said the investment “represents an attractive opportunity to enhance value for our stakeholders and communities while fulfilling a very important need in delivering quality, healthy, branded and packaged food products.”