Mubasher: Investcorp closed $1.25 billion for its Investcorp Strategic Capital Partners II (ISCP II) fund, according to a recent press release. 

Its GP staking arm, Investcorp Strategic Capital Group (ISCG), raised $1.10 billion in fund commitments and an additional $155 million of committed co-investment capital.

ISCP II’s size is more than 75% larger than its predecessor, ISCP I, marking a milestone in a selective private markets fundraising environment.

The fund attracted strong support from existing limited partners, many of whom increased or maintained their commitments. It also expanded its investor base across the US, Asia, Europe, Latin America, and the GCC, including insurance companies, private wealth channels, and high-net-worth individuals.

Beyond the direct fund commitments, select investors have committed $155 million for co-investments, with additional allocations to partner GP funds.

It is worth noting that ISCG’s assets under management (AUM) now total over $2.40 billion.

Mohammed Alardhi, the Executive Chairman of Investcorp, said: “Since we launched our growth strategy ten years ago, Investcorp has proven itself as a value-added partner of choice in the middle market across asset classes and regions.”

“Our GP staking strategy is emblematic of this approach, and we look forward to backing more talented GPs in the years ahead and expanding their reach and capabilities,” he added. 

From his side, Anthony Maniscalco, Managing Partner and Head of ISCG, stated: “We are deeply grateful for the support and conviction of our limited partners, who believe in the platform we’ve built to support middle-market GPs, accelerate their growth and enhance longevity.”

“The GP staking strategy has become a core component of investor allocations, and we are excited to continue as an active, hands-on partner to our portfolio,” Maniscalco noted.

ISCG supports middle-market GPs managing $1 to $10 billion in assets, providing resources in fundraising, strategy, operations, technology, and AI integration.

Since 2019, ISCG has backed over a dozen GPs across private equity, credit, real assets, infrastructure, and secondaries.

ISCP II has made three investments so far, with a fourth expected to close later this year, including Monomoy Capital Partners, MML Capital, Banner Ridge Partners, and Vauban Infrastructure Partners. Meanwhile, the combined AUM of Partner GPs across ISCP II and its predecessor exceeds $105 billion.