October 25, 2016 / 6:20 AM / 3 years ago

Bahrain's Investcorp says to buy 3i's debt-management business

DUBAI, Oct 25 (Reuters) - Bahrain-based private equity investor Investcorp has agreed to acquire the debt-management business of Britain’s 3i for 222 million pounds ($271 million), it said on Tuesday.

The proposed transaction will add $12 billion to Investcorp’s assets under management (AUM), bringing the Bahraini company’s total AUM to $23 billion, and will be fully funded by the company’s existing balance sheet.

Investcorp said it does not plan to seek debt capital or further equity investment for the transaction. ($1 = 0.8180 pounds) (Reporting by Hadeel Al Sayegh; Editing by David Goodman)

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