Investcorp, which provides initial capital to alternative investment firms, announced Monday that New York-based hedge fund firm Prosiris Capital Management has surpassed $1 billion in assets under management.
Investcorp, which provided seed capital for Prosiris Capital in 2011, explained in the statement that it made the initial investment because it recognized Prosiris founder Reza Ali as “one of the most experienced and proven managers of complex credit and structured finance investing.”
Investcorp plans to continue its seeding relationship with Prosiris Capital and will remain a strategic investor in the fund.
With offices in New York, London, Bahrain and Saudi Arabia, Investcorp had about $10.5 billion in AuM as of June 30. A credit-oriented investment manager, Prosiris Capital was launched in 2011.