Investcorp racks up over $1.2bn for debut North American PE fund

• Fund I’s limited partners include pension plans, family offices, private wealth funds and an insurance company across North America, Europe and the Gulf region
• Investcorp was founded in 1982
• The firm manages $50 billion in assets

Investcorp has closed its inaugural North American private equity fund at over $1.2 billion.

The fund will focus on middle-market services businesses in North America.

Fund I’s limited partners include pension plans, family offices, private wealth funds and an insurance company across North America, Europe and the Gulf region.

“We have a long and established history of investing in North America mid-market services companies, and we look forward to continuing to broaden and deepen our institutional investor base as this strategy continues to scale,” said Mohammed Alardhi, executive chairman of Investcorp, in a statement. “We are grateful for the trust that our institutional investors have placed in us during this time of greater uncertainty and a more challenging capital raising environment.”

Founded in 1982, Investcorp manages $50 billion in assets.