Latest news with #Investcorp
Fashion Network
a day ago
- Business
- Fashion Network
Citykart Ventures secures approx $65 million strategic investment
Value fashion retailer Citykart has secured Rs 538 crore in Series B funding, one of the largest investments in India's affordable fashion segment. The round was co-led by TPG NewQuest, a private equity platform under TPG, and A91 Partners, a domestic growth-focused investment firm. Of the total capital raised, around Rs 120 crore is primary funding to support Citykart's expansion in retail presence and product range, Entrackr reported. The remaining Rs 418 crore came from secondary transactions, facilitating an exit for early investor Investcorp. According to media reports, Investcorp's initial investment of Rs 75 crore in 2019 has grown to an exit value of approximately Rs 280–300 crore. India SME Fund retains a minority stake. Headquartered in Gurugram, Citykart has recently added 12 stores, bringing its total to 137 outlets across 91 cities in 11 states. The retailer focuses on Tier 2 and Tier 3 cities with in-house labels such as Athiya, Nimes, Fumee, and Remise, catering to over 15 million annual customers. Founder Sudhanshu Agarwal has previously stated the brand is targeting Rs 1,300 crore in annual revenue and aims to reach 300 stores. With a current growth rate exceeding 40%, Citykart positions itself as a budget-friendly fashion destination inspired by global models, according to its Facebook page.
Arabian Post
2 days ago
- Business
- Arabian Post
Investcorp Capital Divests $550 Million in US Multifamily Properties Amid Market Adjustments
Investcorp Capital, the Abu Dhabi Securities Exchange-listed alternative investment firm, has concluded the sale of 12 multifamily residential properties across five US states for approximately $550 million. The transactions, executed over several months beginning in 2024, encompassed the complete liquidation of a multifamily portfolio. Despite prevailing challenges in the US housing market, including elevated mortgage rates and economic uncertainties, the firm reported securing the exits at a premium. This outcome underscores the resilience of the underlying assets and Investcorp's adeptness in navigating complex investment landscapes. The divested properties, averaging a 94% occupancy rate, are situated in key rental markets such as Atlanta, Philadelphia, Raleigh, St. Louis, Tampa, and Orlando. Notably, the final transaction involved the sale of a 432-unit garden-style apartment community in Atlanta, completed at the end of February 2025. ADVERTISEMENT Interim CEO Mohamed Aamer highlighted the enduring appeal of the multifamily sector, stating, 'Though rent growth has cooled from the highs we saw in recent years, the long-term fundamentals supporting the multifamily sector remain compelling.' He emphasized the firm's commitment to identifying opportunities that deliver value to shareholders. Investcorp Capital's strategic focus on real estate is evident, with nearly 98% of its portfolio comprising industrial or residential properties. According to Real Capital Analytics, the firm ranks among the top five cross-border buyers of US real estate over the past five years.
Al Bawaba
2 days ago
- Business
- Al Bawaba
Investcorp Capital Successfully Exits $550 million of Multifamily Assets at a Premium
Investcorp Capital plc (the 'Company' or 'Investcorp Capital') (ADX symbol: 'ICAP'), an investor in private markets and alternative investment opportunities, is pleased to announce that it has exited 12 residential multiple-occupancy real estate assets ('multifamily assets') across five states in the United States – including the full liquidation of a multifamily portfolio – at an aggregate price of ~$550 million. Despite a tempered multifamily market, the exit was secured at a premium, reflecting the strength of the underlying properties as well as Investcorp Group's ability to deftly navigate challenging investment environments. Commenting on the exit, Interim Chief Executive Officer, Mohamed Aamer, said: 'Though rent growth has cooled from the highs we saw in recent years, the long-term fundamentals supporting the multifamily sector remain compelling. Our latest exits reflect the confidence in the sector, as well as Investcorp's ability to capitalize on attractive opportunities and leverage operational expertise to create value. The team will continue to evaluate properties across target markets, identifying opportunities that will deliver to shareholders.' The assets are 94% occupied on average and are situated in desirable rental markets including Atlanta; Philadelphia; Raleigh, North Carolina; and St. Louis, Missouri, as well as Tampa and Orlando in Florida. Most recently, the Investcorp Group team completed the liquidation process with the sale of a 432-unit garden-style apartment community in Atlanta at the end of February 2025. Investcorp Group is among the top-5 largest cross-border buyers of US real estate over the past five years, according to Real Capital Analytics. 98% of the firm's portfolio consist of industrial or residential properties.
Zawya
2 days ago
- Business
- Zawya
Abu Dhabi-listed Investcorp Capital offloads US real estate assets
Bahrain's Investcorp Capital has offloaded its real estate assets in the US, amidst headwinds of rising mortgage rates and economic uncertainty in the American housing market. The ADX-listed alternative investment firm said it has exited 12 residential multi-occupancy assets across five states in the US, including the full liquidation of a multifamily portfolio at an aggregate price of $550 million. Investcorp Capital said that 'despite a tempered multifamily market', the exit was secured at a premium. 'Though rent growth has cooled from the highs we saw in recent years, the long-term fundamentals supporting the multifamily sector remain compelling,' said Interim CEO, Mohamed Aamer, adding that the company will continue to evaluate properties across target markets. The assets are 94% occupied on average and are situated in rental markets including Atlanta; Philadelphia; Raleigh, North Carolina; and St. Louis, Missouri, as well as Tampa and Orlando in Florida, Investcorp added. Most recently, the Investcorp Group team completed the liquidation process with the sale of a 432-unit apartment community in Atlanta at the end of February 2025. Last week, Freddie Mac said mortgage rates have inched up this past week but continue to remain lower than one year ago. 'With more inventory for buyers to choose from than the last few years, purchase application activity continues to hold up,' said Sam Khater, Freddie Mac's Chief Economist. The 30-year fixed rate mortgage (FRM) averaged 6.86% as of May 22, 2025, up from last week's 6.81% average, but down from a year ago when the 30-year FRM averaged 6.94%. Meanwhile, the 15-year FRM averaged 6.01%, up from last week when it averaged 5.92%, but down from the 15-year FRM average from a year ago at 6.24%. (Writing by Bindu Rai, editing by Seban Scaria)
Arabian Business
2 days ago
- Business
- Arabian Business
Investcorp exits 12 US residential multiple-occupancy assets
Bahrain's Investcorp Capital has exited 12 residential multiple-occupancy real estate assets across five states in the United States for an approximate value of US$550 million. Despite a tempered multifamily (multiple-occupancy real estate assets) market, Investcorp said in a filing with the Abu Dhabi Securities Exchange (ADX) that the exit was secured at a premium. The 12 residential buildings have an average occupancy of 94 per cent and are situated in desirable rental markets in Atlanta, Georgia; Philadelphia, Pennsylvania; Raleigh, North Carolina; St Louis, Missouri; and Tampa and Orlando in Florida. Mohamed Aamer, Interim Chief Executive Officer, commented: 'Though rent growth has cooled from the highs we saw in recent years, the long-term fundamentals supporting the multifamily sector remain compelling. Our latest exits reflect the confidence in the sector, as well as Investcorp's ability to capitalise on attractive opportunities and leverage operational expertise to create value. 'Our team will continue to evaluate properties across target markets, identifying opportunities that will deliver to shareholders.' According to Real Capital Analytics, Investcorp Group is among the top-5 largest cross-border buyers of US real estate over the past five years. Almost 98 per cent of the firm's portfolio consists of industrial or residential properties.
