Investcorp Targets Indonesia for SEA Expansion

As part of its strategy to expand its presence in Southeast Asia, Bahrain-based Investcorp's co-chief executive officer stated that the company is working on several projects in Indonesia, including one in collaboration with the country's sovereign wealth fund.

"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 mentioned the recently acquired prominent local specialty retailer and the Indian dialysis service firm NephroPlus, which plans to expand into Indonesia.

According to Ben-Gacem, whose firm managed $50 billion in assets as of December 2022, the country stands to benefit from rising inflation and commodity prices as a result of its natural resources.

"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.

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

Two-thirds of commercial and public sector economists polled by the WEF this year expect a global recession.