Investcorp, Tages merge absolute return businesses

Rishi Kapoor, co-chief executive officer of Investcorp
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Updated 07 May 2020

Investcorp, Tages merge absolute return businesses

Investcorp, a global provider and manager of alternative investment products, and Tages Group, an European alternative asset management firm, have created a 50/50 joint venture through merging Investcorp’s absolute return investments (Investcorp ARI) business and Tages Capital LLP, the absolute return subsidiary of Tages.

The joint venture, called Investcorp-Tages Limited, leverages Tages Capital’s and Investcorp ARI’s investment expertise and complementary footprints in seeking to create a global absolute return platform with more than $6 billion in revenue-generating assets. Rishi Kapoor, co-chief executive officer of Investcorp, said: “We believe that the joint venture with Tages will be optimally positioned for accelerated growth serving the evolving needs of investors for absolute return investments in the post-COVID landscape, with an expanded geographic footprint, deeper bench of talent and enhanced scale.”

Panfilo Tarantelli, CEO and founding partner of Tages, said: “Tages and Investcorp are ideal partners with long histories of performance generation and cultures of excellence. We are confident that our combined strengths will accelerate our objectives to drive growth.”

Investcorp-Tages Limited will be co-led by existing management, including Lionel Erdely, head and CIO of Investcorp’s ARI business, and Salvatore Cordaro, founding partner and CIO of Tages Capital. 

Erdely said: “Our joint venture will deliver meaningful benefits for our clients. Together, we will be able to offer a broader array of absolute return investment solutions across strategies and markets. As we bring the best of our organizations together, we will remain focused on maintaining the nimble, entrepreneurial approach that has driven our success.”

 


Oman set to welcome first IKEA store in 2022 

Updated 12 min 32 sec ago

Oman set to welcome first IKEA store in 2022 

Oman is all set to welcome its first IKEA megastore at the Oman Avenues Mall, in the heart of the capital city of Muscat. The Swedish furniture and home retailer is expected to open doors to the public by the first quarter of 2022.
A development agreement between the Al-Taher Group, a diversified business group in the sultanate, who are the developers of Oman Avenues Mall, and the UAE-based conglomerate, Al-Futtaim Group who represents IKEA franchise in Oman as well as other territories like the UAE, Qatar and Egypt, was signed this week. Senior officials made the announcement in a virtual press event.
Sheikh Mohammed bin Saud Al-Khalili, board member of the Al-Taher Group, said: “We are pleased to collaborate with Al-Futtaim Group, to bring the globally renowned IKEA brand to Oman Avenues Mall. We believe that IKEA Oman will not only strengthen the position of Oman Avenues Mall as a premier shopping destination, but also position the mall firmly as the shopping mall for the whole of Oman.”
Spread across two floors, the new store will be one of the largest stores of the brand in the region.
The Oman Avenues Mall is operated and managed by retail giant LuLu Group International.