Investcorp has signed a memorandum of understanding (MoU) with Singapore Gulf Bank to explore a strategic collaboration spanning banking services, investment product distribution and digital wealth management, as the Bahrain-based alternative investment firm seeks to deepen financial links between the Gulf and Asia.
Under the proposed partnership, Singapore Gulf Bank (SGB) would explore providing banking, payment and settlement services to support investments in Investcorp’s products. The two firms will also consider distributing Investcorp’s private equity, real assets, credit and liquid investment strategies to SGB’s private banking clients.
The MoU also covers the potential integration of SGB’s digital banking and payment capabilities with Investcorp Wealth, the alternative investment firm’s digital investment platform.
Investcorp manages approximately $9 billion in assets for clients based in Asia, where it has operated since opening its first regional office in Singapore in 2017. It also has a presence in India, China and Japan.
The collaboration is intended to connect investors across the two regions with investment opportunities through Investcorp’s global alternatives platform and SGB’s digital banking infrastructure, the firms said in a statement on Sunday.
“This MOU reflects our continued focus on strengthening connectivity between the Gulf and Asia and expanding access to alternative investments,” said Yusef Al Yusef, global head of distribution at Investcorp.
Ali Moosa, executive vice chairman at SGB, said the proposed partnership would explore how the bank’s payment and settlement services could complement Investcorp’s investment capabilities.
SGB is a digital bank licensed and regulated as a conventional wholesale bank by the Central Bank of Bahrain.
