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Bahrain’s Investcorp sells US-based Accuity Holding

Alternative asset manager Investcorp completed the sale of its US portfolio company Accuity Holdings for an aggregate enterprise value of $530 million, the Bahraini company said on Tuesday.

December 6, 2011 11:41 by

Investcorp said it has distributed $1.5 billion to clients from its four corporate investment portfolio exits over the last 18 months.

The company had assets under management of $11.8 billion as of June 30. Its net income for fiscal year 2011 rose 37 percent, helped by the profitable sale of some of its investment holdings, the company said in August. (Reporting by Shaheen Pasha; Editing by Amran Abocar)

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