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Bahrain Bourse-listed Investcorp, the asset management firm specialising in alternative investments, announced that its portfolio company L’azurde, one of the world’s top five gold jewellery manufacturers, has distributed $16.7 million in dividends to its shareholders, following a strong performance in 2014.
The Investcorp Gulf Opportunity Fund acquired a majority stake in L’azurde in 2009 alongside Eastgate Capital and The National Investor, its consortium partners. After the gold price shock in 2010, a new strategy for the business was developed with the objectives to strengthen its operations and ensure it was positioned to maximise its growth potential, while being insulated from difficult market conditions and gold price volatility. Since that time, L’azurde has been steadily increasing its earnings, achieving double digit year-on-year growth.
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