Investcorp to Deploy $350 Million Across Gulf Businesses by 2028

Bahrain-based alternative asset manager Investcorp plans to invest around $350 million across three to four companies in the GCC through its $750 million Golden Horizon Partnership fund, as it continues to target family-owned businesses seeking to scale, institutionalise operations and prepare for potential public listings.

Launched last year with China Investment Corporation, the fund focuses on sectors including consumer, healthcare, transport and logistics across the Gulf and China.

According to Walid Majdalani, Head of Emerging Markets Private Equity at Investcorp, around 50% of the fund has already been deployed, with the remainder expected to be invested by June 2028.

Investcorp has invested approximately $1.2 billion across 15 companies in the region to date and says family businesses will remain at the centre of its investment strategy. Through its Saudi Pre-IPO Growth Fund, part of the Golden Horizon platform, the firm has invested in companies including NourNet, TruKKer, Salla and, most recently, UAE-headquartered IT distributor Metra.

Majdalani said more than 60% of Investcorp's regional investments have been made alongside family-owned businesses, with the firm often becoming the first institutional investor to join company boards and support expansion, mergers and acquisitions, and eventual public listings.

The company also expects corporate carve-outs to account for more than 20% of its investment pipeline, while another 20% will target regional businesses that have outgrown venture capital funding but remain below the size typically pursued by traditional buyout funds.

Although the firm is evaluating opportunities across the GCC, Investcorp expects many future portfolio companies to have significant exposure to Saudi Arabia. Over the past seven years, it has taken four companies public on the Saudi Tadawul exchange: L'azurde, Theeb Rent a Car Company, Leejam Sports Company and BinDawood Holding.