Investcorp will expand its market leadership in providing a select range of alternative investment products in private equity, real estate, hedge funds and technology ventures. Accordingly, three new leading roles have been established to reinforce the investment placement team.
Marwan Hayek, Managing Director, who has been with Investcorp for 18 years, moves up to head the placement team focusing on institutional clients. He will take overall responsibility for marketing Investcorpâs full product range to institutions across the region. Along with Mufeed Rajab, head of administration in the Bahrain office, Mr. Hayek will also be responsible for government relations within Bahrain.
Talal Al Zain, Managing Director, who has served with Investcorp for over 14 years, moves up to head Investcorpâs relationship with private clients and will take overall responsibility for marketing Investcorpâs full product range to all individual clients across the region. Both Mr. Hayek and Mr. Al Zain will manage teams of relationship managers and product specialists, enabling them to respond rapidly to specific client needs.
Zahid Zakiuddin, Managing Director, who previously served with Investcorp for some 14 years, 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 clientsâ 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.
"Clients who traditionally perceived Investcorp as a provider of private equity investment opportunities are now seeing us as the firm that can satisfy all their alternative investment needs.
"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%. 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% over their investment period.
"Our clients recognize that successful portfolio diversification involves spreading risk as well as seeking enhanced returns. Adding alternative investments to a traditional portfolio can increase returns. It can also lower portfolio volatility and risk and preserve capital during less favorable public market conditions, as alternative investments have a low correlation to the public markets. Globally, institutions and affluent individuals are allocating a greater percentage of their portfolios to this distinct asset class. Our clients are no exception, and Investcorp is responding to their demands."