MANAMA, 10 May 2004 — Investcorp, the global investment group, announced a number of management changes on Saturday to enhance its ability to serve its growing number of clients across the region.
Investcorp provides a select range of alternative investment products in private equity, real estate, hedge funds and technology ventures.
Marwan Hayek, managing director, who has been with Investcorp for 18 years, will head the placement team focusing on institutional clients. He will take overall responsibility for marketing Investcorp’s full product range to institutions across the region. Along with Mufeed Rajab, head of administration in the Bahrain office, Hayek will also be responsible for government relations within Bahrain.
Talal Al-Zain, managing director, who has served with Investcorp for over 14 years, will take overall responsibility for marketing Investcorp’s full product range to all individual clients across the region.
Zahid Zakiuddin, managing director, has returned to the firm as chief of staff for the investment placement team. In this role he will take overall responsibility for the functions that provide sophisticated administrative support to the entire marketing team.
All three newly created positions will report directly to the chief operating officer, Gary Long, who stated: “These are evolutionary developments. First, they are evidence of our commitment to advance our superior level of client service as the firm grows. Second, they enable us to meet our clients’ demands to be able to invest in a range of alternative investment products, all of which meet the high quality standards they expect from the Investcorp brand.”
“In real estate, over the past ten years, we have invested $3.3 billion in over 120 transactions and the $189 million that we have returned to investors in that period has achieved an internal rate of return of approximately 17 percent,” he said.
“Our asset management program recently celebrated its seventh anniversary and, with $3 billion under management, is now one of the leading institutional investors in hedge funds. Its impressive investment record puts it consistently in the top quartile of hedge funds. Our technology ventures business, now in its third full year of operation, has made several outstanding exits. At the same time, our traditional private equity business continues to deliver strong returns. For example, clients investing in Neptune Technology Group, exited in 2003, earned a capital gain in excess of 60 percent over their investment period,” said Long.