Alternatives firm Investcorp has reshuffled and expanded its leadership team, with Chair Mohammed Alardhi taking on CEO responsibilities, the appointment of a new CIO and other new roles, and the departure of a co-CEO.
Effective Sept. 1, Alardhi took on some CEO responsibilities from Co-CEOs Hazem Ben-Gacem and Rishi Kapoor, the $52 billion firm said in a news release.
Ben-Gacem, who has been co-CEO since 2018, is leaving effective Nov. 1. However, he’ll continue in his role as a vice-chair of Investcorp Capital, a company created by Investcorp and listed on the Abu Dhabi Securities Exchange in November.
Kapoor was named as vice-chair and CIO — a new role, a spokesperson said. He will focus on delivering optimal performance for clients and shareholders, the release said. Kapoor had been co-CEO since 2015, and prior to that was chief financial officer.
The revised and deepened leadership structure targets greater coordination across investment strategies and geographies, the release said, bringing on representatives from investment, fundraising and operations teams onto the executive committee.
As such, Investcorp has reorganized its investment activities under three global business lines: private equity and private equity-like, led by David Tayeh; real assets, comprising real estate and infrastructure, co-led by Herbert Myers and Michael O’Brien; and credit, led by Jeremy Ghose. Yusef Al-Yusef was also named to the committee, 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,” Alardhi said in the release. “Rishi and Hazem have helped lead our business from strength to strength in the last several years after we launched our growth journey. 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. I am confident that the new generation of leaders will ensure we maintain our growth momentum.”
Investcorp was founded in Bahrain in 1982.
