Bahrain-based alternative asset manager Investcorp is launching a $750 million climate fund, anchored by sovereign wealth fund Mumtalakat.The fund, Climate Solutions Partners, will invest "commercially proven climate solutions with the potential to transform" carbon management, building, transportation and food and agriculture, Investcorp said on Thursday.Mumtalakat, also based in Bahrain, did not disclose how much it was investing in the fund.The announcement came as the United Nations climate summit COP28 kicked off on Thursday in the United Arab Emirates.Investcorp, founded in 1982, has $50 billion in assets under management. It is best known for listing luxury goods brands such as Gucci and Tiffany & Co, but it has increasingly branched out into other sectors.Earlier this month, the company listed its subsidiary Investcorp Capital (ICAP.AD), which provides investors with access to private market co-investments across assets including credit, real estate and private equity.Under the leadership of Mohammed Al Ardhi, Investcorp's current executive chair, Investcorp has grown its assets under management fivefold over the last seven years by diversifying into sectors including infrastructure, acquiring stakes in other general partners, and insurance.It has listed two blank check companies on the Nasdaq in the U.S., one with a focus on Europe and the other on India.The company, which has opened offices in Singapore, Beijing, Mumbai and Delhi in that time, has also diversified its sources of fundraising. (ICE Doha)

Fonte notizia: Reuters