Investcorp, a Bahrain-headquartered global alternative investment manager, has announced the first closing at $275 million, of its Asia food brands private equity platform. The platform is jointly owned and managed by Investcorp, China Resources, one of the world’s largest owners and distributors of food brands in Greater China and Fung Strategic Holdings Limited, a member of Fung Investments, the private investment arm of the families of Victor and William Fung. Investcorp primarily focuses on capturing the growth and market opportunities in Asia’s highly fragmented food sector. “We are encouraged by the growth factors that we see in the food brand sector in Asia, which we believe offers attractive and defensive qualities in the current environment with consumers increasingly seeking access to trusted quality food products,” said Executive Chairman of Investcorp Mohammed Alardhi. "We appreciate the support from our existing joint venture partners as we continue to progress this attractive platform," Alardhi said. In the past several months, Investcorp has seen strong interest in platforms of this type given the food sector’s traditionally defensive and resilient qualities, especially in the current market landscape. Investcorp said it will aim to invest in branded condiments, packaged foods, and healthy snacks. The firm said in November the PE platform aimed to raise $500 million and would target food brands specifically in China, Singapore, and greater Southeast Asia.