Investcorp Capital saw its bottom line rise 44% y-o-y to reach USD 13 mn in 1Q 2023-24, the newly ADX-listed lender said in its latest earnings release. The company — the investment vehicle of Investcorp Holdings — has a fiscal year that runs from July-June. Investcorp did not disclose its revenues.

What they spent on during the quarter: In 1Q 2023-24, Investcorp invested USD 217 mn in global credit, corporate investments and real estate, as well as USD 87 mn in capital financing services on investments and real estate. The company also put some USD 45 into capital markets and real estate.

What they said: “The results for Investcorp Capital have demonstrated a strong year on year growth of 44% and a 10% return on equity on the last twelve months basis. The strong performance was anchored by strong deployment and realization activities across all asset classes, cashyield generation as per targets and a promising start to placement activity. We believe the balance sheet will deliver on the rest of the year’s objectives,” Investcorp Capital CFO Abbas Rizvi said.

Investcorp Capital is a fresh listing on the ADX: The company successfully listed on the ADX on 17 November, raising some AED 1.66 bn (USD 450 mn) with a market cap of AED 5.04 bn (USD 1.37 bn), according to a press release.

REMEMBER- Investcorp Holding was initially aiming to raise USD 600 mn from the IPO. Despite being at the top of the IPO price range and being upsized by 12%, Bloomberg described the IPO’s performance as “flat” and “lackluster” following its debut.

About Investcorp: The Bahrain-based firm, 20% owned by Abu Dhabi state fund Mubadala, has some USD 50 bn in assets.

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