PIONRINV

By Divya Chowdhury and Federico Maccioni

DAVOS, Switzerland, Jan 21 (Reuters) - Alternative investment firm Investcorp ICAP.AD is eschewing big investments in data centres, a space it considers too crowded, its vice president and CIO said on Wednesday, opting instead for sectors offering better returns and shelter from geopolitical risks.

Investors have poured billions of dollars into artificial intelligence, including data centres, as high expectations for what many view as a transformative technology have driven spending, creating insatiable demand for capital.

However, unease around sky-high company valuations and fears of a possible AI bubble have now begun to emerge.

"Ironically, we are not really going big and deep into data centres mainly because ... too much capital has gone into it. Returns have gotten compressed to levels where arguably, you can get a better risk-return trade-off in other areas," Rishi Kapoor told Reuters.

Speaking on the sidelines of the World Economic Forum in Davos, Switzerland, Kapoor said Investcorp is focusing on investments in domestic professional, commercial and healthcare services, IT services as well as transportation.

"We are kind of picking and choosing, placing our bets in areas where we see clear high conviction and some degree of insulation, if not resilience, to these risks that are otherwise hard to quantify or mitigate," he said.

Investcorp is the Middle East's biggest alternative investment firm and had $60 billion in assets under management as of the end of June.

It is focusing on the U.S., the Gulf region and India, Kapoor said, adding that Investcorp sees a healthy IPO pipeline and backdrop in these markets. The company has a handful of assets that could potentially be listed this year, he added, without providing further details.

Asked about the red-hot Indian market, which ranked as the world's No. 2 for primary equity issuances last year, Kapoor said that the momentum is likely to remain with IPOs proving "a very valid, viable route to monetisation for private sponsors".

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(Reporting by Divya Chowdhury in Davos and Federico Maccioni in Dubai; Editing by Joe Bavier)

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June 20 (Reuters) - Pioneer Investcorp Ltd PILE.BO:

• RE-APPOINTS GAURANG GANDHI AS MANAGING DIRECTOR

Source text: ID:nBSEbk2ZhJ

Further company coverage: PILE.BO

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Updates with Tabreed share price in paragraph 4

By Hadeel Al Sayegh

DUBAI, May 30 (Reuters) - Engie-backed National Central Cooling TABR.DU, known as Tabreed, and CVC are in exclusive talks to buy Abu Dhabi-based Multiply Group's MULTIPLY.AD district cooling business in a deal expected to value the unit at more than $1 billion, two sources told Reuters.

Tabreed and private equity firm CVC were the top bidder for PAL Cooling Holding (PCH), the sources familiar with the matter said, adding that bilateral talks with the seller had started.

One of the sources said the bid was close to $1.1 billion.

Shares of Tabreed jumped 4.3% in midday trading to 2.68 dirhams ($0.7297) after Reuters reported the talks.

The interest in PCH highlights how international buyout groups are increasingly looking to invest in the Gulf region as governments there strive to diversify their economies from oil.

In a statement, Tabreed said it did not comment on market rumours or speculation, adding any material transactions would be disclosed to the market as and when they are finalised.

CVC declined to comment, while Multiply Group did not immediately respond to a request for comment.

Reuters reported in April that CVC was working with Tabreed to jointly bid for PCH.

District cooling plants, which deliver chilled water via insulated pipes to cool offices, industrial and residential buildings, have been developed as a more economical and environmentally friendly alternative to air conditioning.

They are popular in the United Arab Emirates and elsewhere in the Arabian Peninsula, where summer air temperatures can soar above 50 degrees Celsius (122 degrees Fahrenheit).

Founded in 2006, PCH has several plants in Abu Dhabi with a combined design capacity of 242,000 refrigeration tonnes, according to its website.

Reuters reported in April that the sale had drawn interest from bidders including KKR, I Squared Capital, Investcorp and TAQA, and was expected to fetch about $1 billion.

Multiply is controlled by IHC IHC.AD, whose chairman is Sheikh Tahnoon bin Zayed Al Nahyan, the UAE's national security adviser and brother of the country's president who controls a sprawling business empire including two sovereign wealth funds.

($1 = 3.6727 UAE dirham)

(Reporting by Hadeel Al Sayegh
Editing by Mark Potter)

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** Shares of Bigtincan Holdings BTH.AX rise as much as 14.7% to A$0.195, their highest level since Oct 3

** Software co announces proposed listing on Nasdaq through a business combination agreement with Investcorp AI Acquisition Corp (IAAC)

** If implemented, co will list on Nasdaq through a newly formed co called Bigtincan Ltd which will have an implied pre-money equity valuation of $275 mln

** Says Investcorp Cayman Holdings, an affiliate of IAAC, has committed to invest $12.5 mln in Bigtincan Ltd

** Bigtincan Ltd will seek to raise up to $25.0 mln from institutional investors and up to $25 mln in debt finance

** Stock down 8.5% YTD as of last close

(Reporting by John Biju in Bengaluru)

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July 16 (Reuters) - Pioneer Investcorp Ltd PILE.BO:

• TO ISSUE NON-CONVERTIBLE DEBENTURES WORTH UPTO 3 BILLION RUPEES

• TO ISSUE NCDS ON PRIVATE PLACEMENT BASIS

Source text for Eikon: ID:nBSECcgrx

Further company coverage: PILE.BO

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April 24 (Reuters) - INVESTCORP:

• INVESTCORP LAUNCHES $1 BILLION PLATFORM, TO BE ANCHORED BY CHINA INVESTMENT CORPORATION, TO INVEST IN THE GCC AND CHINA

• INVESTCORP AND CHINA INVESTMENT CORPORATION ANNOUNCE LAUNCH OF INVESTCORP GOLDEN HORIZON TO INVEST IN HIGH-GROWTH COMPANIES ACROSS SAUDI, REST OF COUNTRIES OF GULF COOPERATION COUNCIL (AND CHINA

• PLATFORM HAS A TARGET SIZE OF $1 BLN AND WILL BE ANCHORED BY REPUTABLE INSTITUTIONAL AND PRIVATE INVESTORS FROM THE GCC, AS WELL AS CIC

• TARGET COMPANIES ARE EXPECTED TO HAVE HIGH GROWTH POTENTIAL IN ATTRACTIVE SECTORS, INCLUDING CONSUMER, HEALTHCARE, LOGISTICS AND BUSINESS SERVICES

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-- Source link: https://tinyurl.com/577wbeuj

-- Note: Reuters has not verified this story and does not vouch for its accuracy

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-- Source link: http://tinyurl.com/299vz3dt

-- Note: Reuters has not verified this story and does not vouch for its accuracy

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Aug 11 (Reuters) - Pioneer Investcorp Ltd PILE.BO:

• TO ISSUE SECURED/UNSECURED REDEEMABLE NON-CONVERTIBLE DEBENTURES WORTH UP TO 3 BILLION RUPEES

Source text for Eikon: ID:nBSE31Bg22

Further company coverage: PILE.BO

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