Investcorp Closes ISCP II With Over $1.25 Billion in Commitments
Manama, Bahrain – Investcorp, a global alternative investment firm, announced that its GP staking platform Investcorp Strategic Capital Group (ISCG) has closed commitments exceeding $1.25 billion for Investcorp Strategic Capital Partners II (ISCP II) and related vehicles. The total includes $1.1 billion in fund commitments and an additional $155 million in committed co-investment capital.
The closing comes amid a highly selective fundraising environment in private markets, with ISCP II reaching a size more than 75% larger than its predecessor ISCP I, highlighting the differentiated nature of ISCG’s strategy and the strength of its relationships with limited partners (LPs). Following the close, ISCG’s total assets under management now exceed $2.4 billion.
The fund received strong support from existing investors, with the majority of ISCP I investors increasing or maintaining their commitments. At the same time, ISCG expanded the geographic reach of its investor base, attracting new investors from Asia, Europe, Latin America, and the GCC, while strengthening participation from insurance companies and private wealth channels in the United States.
The strategy has also deepened relationships with wealth managers, registered investment advisors, single and multi-family offices, and high-net-worth individuals, broadening access to one of the fastest-growing pools of investor capital.
In addition to fund commitments, a subset of investors allocated $155 million for co-investments, with ISCG expecting to offer further co-investment opportunities to LPs in future ISCP II transactions. The platform has also facilitated LP allocations into partner GP funds.
Mohammed Alardhi, Executive Chairman of Investcorp, said:
“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. Our GP staking strategy is emblematic of this approach, and we look forward to backing more talented GPs in the years ahead and expanding their reach and capabilities.”
Anthony Maniscalco, Managing Partner and Head of ISCG, added:
“We are deeply grateful for the support and conviction of our limited partners, who believe in the platform we’ve built to support middle-market GPs accelerate their growth and enhance longevity. ISCP II’s successful close reflects the strength of our strategy and the trust we have built with investors globally. The GP staking strategy has become a core component of investor allocations, and we are excited to continue as an active, hands-on partner to our portfolio.”
As one of the early active investors in middle-market GPs, ISCG deploys institutional tools and resources to support GP growth, focusing on fundraising support, strategy and product development, and the expansion of internal infrastructure.
The group has developed a comprehensive toolkit to assist partner GPs across product development, generative AI integration, technology, operations, human capital management, succession planning, and add-on acquisitions, alongside a seven-person internal capital formation team supporting fundraising initiatives.
ISCG invests in high-growth private capital managers in the middle market, defined as firms managing between $1 billion and $10 billion in assets. Since its launch in 2019, ISCG has backed more than a dozen GPs across private equity, private credit, real assets, infrastructure, structured capital, and secondaries.
To date, ISCP II has completed three investments, with a fourth expected to close later this year, including Monomoy Capital Partners, MML Capital, Banner Ridge Partners, and Vauban Infrastructure Partners. The combined AUM of partner GPs across ISCP II and its predecessor exceeds $105 billion.
ISCG expects to build a portfolio of approximately 10 partner GPs within ISCP II, consistent with its disciplined and diversified portfolio construction strategy.
