Investcorp’s asset portfolio in Europe hits $1.2bn

Investcorp, the alternative asset management whose largest shareholder is Mubadala Investment Company, has made two fresh acquisitions in the Italian real estate market, bringing its total investment in Europe to roughly €1.1 billion ($1.2 billion).

Last year, the Bahrain-based business paid €74 million for Kering’s Italian headquarters in Milan, and it just paid €128 million for the UN’s International Fund for Agricultural Development (IFAD) office in Rome, according to a statement released on Monday.

Investcorp has invested in 80 properties spanning the UK, Germany, the Netherlands, Italy, and Belgium since beginning its European real estate company in 2017.

“Milan and Rome continue to have a growing demand for office space… these acquisitions are in line with our strategy of investing and growing our real estate portfolio across Europe,” Yusef Al Yusef, head of Investcorp’s private wealth, said.