Investcorp Avoids Data Centers, Prefers Services Sectors - CIO at Davos

DAVOS, Switzerland, Jan 21, 2026 – Investcorp is bypassing major investments in data centers, citing overcrowded markets and compressed returns, Chief Investment Officer Rishi Kapoor said Wednesday at the World Economic Forum in Davos. The firm, which manages $60 billion in assets as of June 2025, is instead targeting domestic professional, commercial, and healthcare services, IT services, and transportation—sectors offering better risk-adjusted returns and resilience against geopolitical uncertainty. "Too much capital has gone into data centers," Kapoor said. "You can get a better risk-return trade-off elsewhere." Investcorp is focusing on the U.S., Gulf region, and India, where it sees a healthy IPO pipeline. Kapoor noted IPOs remain a viable exit route for private investors, particularly in India, which ranked second globally for primary equity issuance in 2025.