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Abu Dhabi, UAEWednesday 26 September 2018

Investcorp appoints HDFC Chairman Deepak Parekh to advisory board

Mr. Parekh has been chairman of Indian financial services conglomerate HDFC since 1993 

Investcorp makes it debut investment in China. Courtesy Investcorp
Investcorp makes it debut investment in China. Courtesy Investcorp

Investcorp, a Bahrain-based alternative asset firm with US$21.3 billion of assets under management, said that Deepak Parekh, Chairman of HDFC Limited, the Indian financial services conglomerate, has been appointed to the firm's international advisory board.

"It is an honour to welcome Deepak onto our International Advisory Board," said Mohammed Alardhi, Executive Chairman of Investcorp.

"As someone who is globally recognized and deeply respected for his insights and guidance by both multinationals and policy makers, Deepak brings to us and our International Advisory Board a new perspective that will only enhance our ability to become one of the world's leading alternative asset managers."

Mr. Parekh has been Chairman of HDFC since 1993 and has been with the group since 1978. Before that, he held senior positions with Chase Manhattan Bank and Grindlays Bank. He is also the non-executive chairman in India of Siemens, GlaxoSmithKline, and BAE Systems India.

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"Investcorp is driving an ambitious phase of growth which is guided by a vision to transform itself into one of the world's leading diversified global asset managers," Mr. Parekh said.

"In a short period of time the team has delivered a doubling of assets under management, broadened its investor base and expanded its product lines for its clients. I am truly excited to be joining the Advisory Board at this transformational time and look forward to working with the Investcorp management team and my fellow international advisory board."

Investcorp, in which Abu Dhabi’s Mubadala Investment Company is the largest shareholder with a 20 per cent stake reported in August a 34 per cent year-on-year increase in net profit to $120.3 million from $90.1m in the financial year that ended in June.

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