DUBAI, July 30 Bahrain-based alternative
investment manager Investcorp reported a 56 percent
rise in full-year net income on Tuesday, aided by strong growth
in fee income.
Investcorp, which expects to fully invest its $1 billion
Gulf fund in 2013, made a net profit of $104.9 million in fiscal
year 2013 ended in June, compared with $67.4 million in the
Profit growth was driven by "a very strong increase in deal
activity fees", Rishi Kapoor, Investcorp's chief financial
officer, told reporters.
Fee income at the company, which previously took luxury
brands Gucci and Tiffany public, rose 40 percent to $329.5
million, Investcorp said at a news conference in Dubai.
(Reporting by Mirna Sleiman; Writing by Dinesh Nair; Editing by