Bahrain's Investcorp buys 50% of Corsair's $4.8B infrastructure business

Bahrain-based private equity and asset management firm Investcorp has acquired a 50% stake in the $4.8 billion infrastructure business of US company Corsair Capital, the two companies announced Monday.

The deal was completed via the establishment of a new entity called Investcorp Corsair Infrastructure, a statement from the two companies said.

The new entity, jointly owned by the two companies, comprises Corsair’s infrastructure business’ existing funds, investments and team “which will continue to pursue a highly differentiated and scalable investment strategy in transportation, logistics and associated infrastructure subsectors,” the companies said.

New York-based Corsair’s infrastructure business has assets mainly in transportation and logistics, including Vantage Airport Group, which helped redevelop Terminal 6 at the city’s John F. Kennedy International Airport and build the new Terminal B at LaGuardia Airport.