Investcorp announced the close of its second GP staking vehicle, Investcorp Strategic Capital Partners II (ISCP II), with commitments exceeding $1.25 billion, including $1.1 billion in fund commitments and an additional $155 million allocated for co-investments. The fund is managed by Investcorp Strategic Capital Group (ISCG), the firm’s GP staking platform. ISCP II closed at a size more than 75% larger than its predecessor, ISCP I, reflecting continued investor interest despite a selective fundraising environment for private markets.
Following the raise, ISCG’s assets under management now exceed $2.4 billion. The fund received strong backing from existing investors, many of whom increased or maintained their commitments, while new capital came from institutions and private wealth channels across the U.S., Asia, Europe, Latin America, and the GCC.
The new fund will continue ISCG’s strategy of investing in middle-market private capital managers overseeing between $1 billion and $10 billion in assets. Since launching in 2019, the platform has supported more than a dozen firms across private equity, credit, infrastructure, and other alternative asset classes. ISCP II has already invested in managers, including Monomoy Capital Partners, MML Capital, Banner Ridge Partners, and Vauban Infrastructure Partners, with another transaction expected later this year.
Beyond capital support, ISCG works with partner firms on fundraising, strategy development, operations, and technology adoption, including generative AI integration. The combined assets managed by partner GPs across ISCP II and its predecessor now exceed $105 billion. The fund aims to build a portfolio of around ten GP partnerships as it expands its investment program.
