Bahrain-based Investcorp and Aberdeen Standard Investments have appointed Sir Gerry Grimstone as chairman of its joint venture.
His appointment follows his decision to step down from his roles as a non-executive director of Barclays and chairman of its subsidiary Barclays Bank.
The joint venture will invest up to $1 billion in social and core infrastructure projects in Gulf Corporation Council countries. GCC countries have a population of around 57 million people and have almost half the world’s oil reserves. The joint venture will actively target greenfield and brownfield social and core essential infrastructure assets in sectors including healthcare, education, utilities, social housing, smart cities, roads and rail.
