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Bahrain-based Investcorp has acquired two industrial portfolios in Minneapolis and Baltimore for a gross transaction value of over $335 million.
The portfolios comprise a total of 27 properties and 2.7m square feet, the Middle East’s largest alternative investment firm said.
Investcorp’s global head of distribution Yusef Al Yusef said: “With e-commerce showing no sign of slowing and a lack of new supply for infill and urban products, we continue to believe in the long-term viability of the asset class.”
Investcorp, which manages $55 billion in assets, is among the top five largest cross-border buyers of US real estate over the past five years, according to Real Capital Analytics.
The firm’s US real estate strategy invests primarily in the industrial and residential asset classes, with 98 per cent of its portfolio consisting of these property types.
In a separate statement, Investcorp said it has agreed to sell its majority stake in Contentserv, an AI-powered product information management solutions provider, to Dassault Systèmes’ US subsidiary Centric Software.
Germany-based Contentserv helps companies manage product content and optimide customer experiences. Its solutions improve product offerings and sales channel coverage, with users reporting benefits like 30pc faster time to market.
Since Investcorp’s 2019 acquisition, Contentserv’s recurring revenues have grown sixfold, reaching over 1,600 customers in 90 countries. The 2023 acquisition of Shoppingfeed expanded its European presence and product capabilities.
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