The company, which manages $1.2bn of real-estate assets, spent $200m last year purchasing properties in Miami, Boston, Washington DC, San Francisco and Los Angeles, Jonathan Dracos, head of real estate of Investcorp, told reporters in Dubai on Sunday.
“When we are out buying, we are looking for 8 percent to 10 percent current return yearly paid to clients and overall return of somewhere between 10 percent and 12 percent,” said Dracos, who served on the executive committee for George Soros’s Quantum Reality Fund.
Investcorp, whose businesses include investments in companies, real estate as well as hedge funds, had $11.6bn of assets under management at the end of December. In the past three years, the company invested in 12 equity transactions and six debt deals.
