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Investcorp, Tages set up absolute-return JV

Investcorp, Tages set up absolute-return JV
The JV will leverage Tages Capital’s and Investcorp ARI’s investment expertise
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Mubasher: Bahrain's Investcorp and Tages Group on Wednesday announced the creation of a 50-50 joint venture (JV), Investcorp-Tages Limited, by combining the absolute return investments (ARI) businesses of Investcorp and Tages Capital, the absolute return subsidiary of Tages.

The JV will leverage Tages Capital’s and Investcorp ARI’s investment expertise and complementary footprints in an attempt to create a global absolute return platform with revenue-generating assets exceeding $6 billion, according to a press release.

“We believe that the JV with Tages will be optimally positioned for accelerated growth serving the evolving needs of investors for absolute return investments in the post-COVID-19 landscape, with an expanded geographic footprint, a deeper bench of talent, and enhanced scale, ” stated Investcorp's Co-CEO, Rishi Kapoor.  

“The businesses are highly complementary with similar core values, focusing on best-in-class client service together with strong performance and alignment of interests,” he added.

The anticipated benefits of the merger include broadening investment platform, expanding and deepening client relationships, and combining world-class teams, the statement said. 

Moreover, CEO and founding partner of Tages, Panfilo Tarantelli, remarked, “The availability of additional resources, a global reach, and access to multiple pools of capital will enhance our ability to offer decorrelated returns in the current volatile market environment and respond to the challenges of the new world which will emerge as a consequence of the COVID-19 crisis.”

Investcorp-Tages Limited will be co-led by existing management that includes Lionel Erdely, the head and CIO of Investcorp’s ARI business and Salvatore Cordaro, the founding Partner and CIO of Tages Capital.