Investcorp, the largest alternative asset manager in the Middle East, is in exclusive talks to buy Italian club AC Milan, the seven-time European football champion.
According to Bloomberg sources, talks are underway between Investcorp and Elliott Management, the current owner of AC Milan since 2018, to buy it for one billion euros.
It is worth noting that Investcorp is expanding assets under management from the United States to Asia in an effort to increase them to $100 billion from about $40 billion currently.
Investcorp had withdrawn its listing from the Bahrain Stock Exchange last year after nearly four decades in a move aimed at giving it the flexibility to expand faster.
Mubadala Investments acquired a 20% stake in Investcorp in 2017.