Kapoor named vice chairman in Investcorp management shuffle

Bahrain-headquartered global alternative investment firm Investcorp has named co-chief executive officer (co-CEO) Rishi Kapoor as vice chairman and chief investment officer (CIO), revamping its leadership structure.

The move comes following the exit of the other co-CEO, Hazem Ben-Gacem, the investment firm which has more than $52 billion in assets under management said.

Investcorp executive chairman Mohammed Alardhi “will assume additional responsibilities previously undertaken by the co-CEOs”, the investment firm said. The co-CEO structure had been in place since 2015.

Kapoor will focus on “delivering optimal performance for clients and shareholders, and Hazem Ben-Gacem is leaving the firm effective 1 November but will continue in his role as a vice chairman of Investcorp Capital plc,” it added.

“As we move into a new phase of growth, I’m pleased to partner with the broadened executive leadership team to shape our global investment strategy and generate further value for all our stakeholders,” Kapoor said.

Kapoor, who joined Investcorp from Citigroup in 1992, held several top positions at the Bahrain firm, including co-CEO, and chief financial officer between 2003 and 2015. The company employs about 500 people across 14 offices.

Kapoor holds a bachelor’s degree in electrical and computer engineering from the Indian Institute of Technology (IIT), and an MBA from Duke University’s Fuqua School of Business.

He sits on the board of directors for National Bank of Bahrain, and chairs its risk and compliance committee.

Investcorp, meanwhile, said that it has consolidated and organized its investment activities under three global business verticals.

Private equity and private equity like will be led by Dave Tayeh, while real assets comprising real estate and infrastructure will be co-led by Herb Myers and Mike O’Brien, the company said, adding that credit will be led by Jeremy Ghose.

Yusef Al-Yusef will be leading the global distribution platform.

“As we increase our focus on leveraging the strength of our existing investment platform, we recognize it is the right time to broaden our executive leadership to support our future growth plans. Rishi and Hazem have helped lead our business from strength to strength in the last several years after we launched our growth journey,” Alardhi, a former chief of the Omani Air Force, said.

“I look forward to continuing to work with Rishi in his capacity as CIO and I want to thank Hazem for his many contributions to Investcorp over the years and his continued stewardship as vice chairman of Investcorp Capital,” he added.

Set up in 1982 by Nemir Kirdar, an Iraq-born financier, Investcorp was initiated as an innovative asset management firm that directed the Middle East’s petroleum wealth into developed markets.

The company swiftly established a reputation, acquiring stakes in luxury brands such as Tiffany and Gucci during the 1980s.

Kirdar stepped down from his executive position in 2015, handing over charge to Alardhi.

The changes at Investcorp became effective 1 September.