Investcorp to triple India assets to $1.5 billion

After acquiring the private equity and real estate business of IDFC Alternatives, Bahrain-based global alternative asset manager Investcorp is looking to triple the assets under management to $1.5 billion by 2022 from $450 million right now. The plan underlines the continued attractiveness of the Indian market among global investors. The investment firm, with over $22 billion under management, also said that it will look at areas like warehousing and commercial real estate as well as consumer technology companies. Investcorp announced the acquisition of the IDFC Alternatives business last week after more than a year of discussions. IDFC, which recently merged with non-banking finance company (NBFC) Capital First, decided to exit the business and also sold off the infrastructure fund.