Investcorp to reach $25 billion AUM target next year, sets sights on $100 billion

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The alternative investment firm had set an aim in November 2015 of more than doubling its AUM over a period of seven years from $11 billion, a feat Ardhi believed would put it into the top tier of global investment companies.

The acquisition of the debt-management business of Britain's 3i Group PLC (III.L) for 222 million pounds ($275.5 million), announced last month, has increased its AUM to $23 billion within the first year of the target.

"This time next year, with these initiatives behind us, we will be at $25 billion," Ardhi told a dinner audience ahead of the firm's investor day.

Apart from 3i, Investcorp has also announced deals in the past 12 months for a 55 percent stake in Italian menswear company Corneliani, a minority stake in Saudi Arabian supermarket group Bindawood Holding, and cybersecurity firms Securelink and Nebulas.

"At that point, we will put a strategy in place - a strategy we will discuss with you - for becoming the first asset manager in the region to reach $100 billion AUM," Ardhi said, adding it would talk more about how the plan will be next year.

(Reporting by David French; Editing by Sherry Jacob-Phillips)