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.”