Investcorp Capital (ICAP), the Abu Dhabi Securities Exchange (ADX)-listed alternative investment company, has announced strong financial results for the first half of its 2026 fiscal year. For the six months ending December 31, 2025, the firm demonstrated resilient performance, with significant growth in operating income and a commitment to shareholder returns through a substantial dividend payout.
Financial Performance Highlights
Investcorp Capital reported a 16% year-on-year increase in total operating income, which reached $52 million for H1 FY26, up from $45 million in the same period last year. Net profit remained stable at $27 million.
In a move underscoring its strong income generation, the company’s Board has declared an interim dividend of AED 0.092 ($0.025) per share, totaling an aggregate of $55 million. This distribution represents half of the company’s targeted full-year dividend of 8% on opening net asset value (NAV), keeping it firmly on course to meet its annual target.
Co-Investment Strategy Drives Growth
A key driver of the positive results was the performance of its co-investment activities, which saw revenue surge by 47% to $25 million, compared to $17 million in H1 FY25. This growth was attributed to higher income from its structured portfolio, private equity, and strategic capital investments.
Revenue from underwriting activities, or Capital Financing Services, remained a stable contributor, generating $24 million with a 10% annualized effective yield. The company also demonstrated operational efficiency, with operating expenses decreasing by 20% to $4 million.
Leadership Commentary
Sana Khater, Chief Executive Officer of Investcorp Capital, commented on the results, stating, “We are pleased to report strong results in H1 FY26. ICAP continues to deliver one of the higher dividend profiles on the ADX and we remain committed to maintaining a competitive dividend payout going forward. Our portfolios continued to perform well, with co-investment revenue up 47% year-on-year. This demonstrates the strength and scalability of our business model as we continue to leverage our global pipeline to generate shareholder value.”
Rohit Nanda, Chief Financial Officer, added, “H1 results showcase our financial discipline and strategic growth trajectory. With total assets now at $1.96 billion and co-investments representing 68% of our balance sheet, we continue to successfully scale our core income-generating activities.”
Portfolio Activity and Outlook
During the six-month period, Investcorp Capital was highly active, deploying $614 million in new investments, a significant increase from $480 million in the prior year. The firm also successfully managed its exits and placements, achieving realizations of $652 million. This robust activity highlights the company’s ability to effectively cycle capital and manage its growing asset portfolio, which now stands at $1.96 billion.
About Investcorp Capital
Investcorp Capital (ICAP) is an alternative investment company listed on the Abu Dhabi Securities Exchange (ADX). It specializes in providing investors with access to a diverse range of global alternative investment opportunities across private equity, global credit, and real assets. The company focuses on capital deployment and capital financing services to generate sustainable value and competitive dividends for its shareholders.
Source: Zawya
