Investcorp eyes food sector with US$500m fund

Singapore

THE Singapore office of Middle Eastern asset manager Investcorp has teamed up with partners in China and Hong Kong for a new US$500 million fund to buy food brands and manufacturing sites in Asia.

The Bahrain-headquartered firm, together with Chinese state-owned conglomerate China Resources and Fung Investments, the private investment arm of the families of Hong Kong's Victor and William Fung, announced the fund's launch on Thursday, calling it the first private equity platform dedicated solely to investing in Asian food brands.