Investcorp’s GP Staking Platform Tops $1.25B for Second Fund
Investcorp has secured more than $1.25 billion in commitments for its GP staking strategy through Investcorp Strategic Capital Partners II (ISCP II) and related vehicles, marking a significant expansion of its platform backing middle-market private capital managers.
The capital raise includes $1.1 billion in fund commitments and an additional $155 million in committed co-investment capital, according to the firm. Beyond direct co-investments, Investcorp Strategic Capital Group (ISCG) has also facilitated limited partner allocations into partner GP funds.
ISCP II closed more than 75% larger than its predecessor fund, bringing ISCG’s total assets under management to more than $2.4 billion.
Investor demand was driven largely by existing limited partners, with most investors from ISCP I maintaining or increasing their commitments. The fund also broadened its geographic reach, attracting capital from insurance companies and private wealth investors in the U.S., alongside new institutional participants across Asia, Europe, Latin America, and the Gulf Cooperation Council (GCC) region.
“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,” said Mohammed Alardhi, Executive Chairman of Investcorp.
Founded in 2019, ISCG focuses on providing strategic capital to middle-market private capital managers overseeing between $1 billion and $10 billion in assets. The platform has backed more than a dozen GPs spanning private equity, private credit, infrastructure, real assets, structured capital, and secondaries.
ISCP II has already completed three investments, with a fourth expected later this year. Current partner GPs include Monomoy Capital Partners, MML Capital, Banner Ridge Partners, and Vauban Infrastructure Partners.
Across ISCP II and its predecessor fund, partner GPs collectively manage more than $105 billion in assets, with the strategy ultimately targeting a portfolio of roughly 10 GP partnerships.
Fried, Frank, Harris, Shriver & Jacobsen LLP advised on the fund formation of ISCP II.
