Perhaps continuing a trend of Middle Eastern companies coming stateside, Investcorp Bank BSC, a $10.6B Bahrain-based company, acquired the US hedge fund of funds business of SSARIS Advisors.
The acquisition will boost Investcorp’s discretionary and advisory assets by $800M and add clients across the US, Europe and Asia.
Investcorp executive chairman Mohammed Al Ardhi explained the expansion into US markets as “part of our drive to expand product lines and grow assets under management.”
Investcorp’s hedge fund business manages about $4.1B in assets. Last month its US-based real estate unit purchased eight properties in Las Vegas, Denver, Chicago, Atlanta and Dallas for $400M.
SSARIS will keep its investment management of absolute return hedge fund strategies, according to the company's statement. [Bloomberg]
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