Abu Dhabi sovereign investment fund Mubadala Development Co. will acquire a 20 percent stake in alternative investment firm Investcorp Bank BSC, which has backed companies including Tiffany & Co. and Gucci Ltd. under founder Nemir Kirdar.
The selling tsunami which immediately followed Brexit has left the Savigny Luxury index lost at sea this month.
Investcorp Bank, a Bahrain investment house that made its mark in the 1980s with buyouts of high-end retailers Gucci and Tiffany & Co., said it purchased a 55 percent interest in luxury Italian menswear maker Corneliani.