Investcorp Bahrain eyes Europe after $1bn+ US work
The investment firm has appointed a new managing director, whose mandate is to lead the Bahraini company's entry into European real estate
Bahrain headquartered investment firm, Investcorp, is reportedly eyeing the European property market following its foray into US last year.
The firm purchased $400m (BHD150.8m) worth of residential units in Las Vegas, Denver, Chicago, Atlanta, and Dallas, through its US unit last October.
This week, the company announced the appointment of Neil Hasson as its managing director, with the mandate of directing the company's European real estate plans.
Hasson joins as the firm targets the European property sector in line with its strategy to diversify its range of investment products, Arabian Business reported, citing a company statement.
He was previously a senior managing director at Macquarie Group, responsible for the firm's European real estate lending business.
Investcorp's total investment in the US amounts to $1.5bn (BHD565.5m).
Hasson, who will be based in London, will now be responsible for developing Investcorp's European real estate investment business with an initial focus on core-plus opportunities in residential and commercial properties across the United Kingdom, Germany, France, Italy and Spain.
Mohammed Al-Ardhi, executive chairman at Investcorp, said: "Diversification into the European real estate market is a key element of Investcorp's strategy.
"Investcorp has long-served its client base with global and diversified investment products.
"Entering European real estate is the next logical strategic step for the firm."