Investcorp aims Indonesia to widen Southeast Asia footprint


The co-chief executive officer of Bahrain-based Investcorp said the company is working on several projects in Indonesia, including one in collaboration with the country's sovereign wealth fund as it aims to increase its presence in Southeast Asia.

"We have two terrific initiatives in Indonesia right now, and hopefully, a third very soon in partnership with the local sovereign wealth fund," Hazem Ben-Gacem said that Global Markets Forum on the sidelines of the World Economic Forum (WEF)annual meeting in Davos.

He listed the two as the recently purchased prominent local speciality retailer and the Indian dialysis service firm NephroPlus, which is planning to expand into Indonesia.

According to Ben-Gacem, whose company managed $50 billion in assets as of December 2022, the nation stands to benefit from increasing inflation and rising commodity prices due to its natural riches.

"The macro momentum is terrific, (and the Indonesian) government has been doing a good job of making it a very investment- and development-focused country," Ben-Gacem said.

According to Rishi Kapoor, co-CEO of Investcorp, a potential global economic slowdown will present many tactical opportunities for private equity firms in 2023. Kapoor also noted that his fund was concentrated on investing in real estate and logistics, which were becoming more widely available at "more reasonable" prices.

A global recession is anticipated by two-thirds of the commercial and public sector economists surveyed by the WEF this year.

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