Global private equity major Bain Capital has taken control of Mohegan’s resort in South Korea while India’s InCred Group has acquired Dubai-based Arrow Capital.
Bain Capital buys control of Mohegan’s Korean resort
Private equity megafund Bain Capital has acquired control of Mohegan Inspire Entertainment Resort on Yeongjong Island in Incheon, South Korea.
Bain has secured a controlling stake in MGE Korea, the parent company of the resort, which is the South Korean subsidiary of US-based Mohegan Gaming & Entertainment, according to a joint statement.
“This transition will have no impact on Inspire’s employees, guests, or day-to-day operations. Inspire’s existing management team and Bain Capital are working closely to ensure business continuity while implementing enhancements that will strengthen the resort’s market position,” the statement said.
Located near the Incheon International Airport on Yeongjong Island, Inspire is a large-scale entertainment-integrated resort that combines various resort facilities, entertainment elements, and top-notch hospitality services. The project has three hotel towers, a multi-purpose arena, a water park, a casino, an entertainment park and commercial facilities.
India’s InCred acquires Dubai’s Arrow Capital
India-based diversified financial services firm InCred Group announced its acquisition of Arrow Capital, a boutique financial services provider regulated by the Dubai Financial Services Authority (DFSA).
Financial details of the acquisition were not disclosed but InCred said the deal will see InCred Global Wealth managing more than $2 billion in assets across offices in Dubai, Singapore, and London.
Founded in 2016, Arrow Capital offers wealth management, investment advisory, corporate finance, and asset management services to ultra-high-net-worth individuals, families, trusts, and corporate entities globally.
“Arrow’s deep understanding of the Middle Eastern and African markets, combined with its strong client relationships and broad service offerings, will significantly enhance our ability to serve the sophisticated needs of clients across various segments,” said InCred Group founder and CEO Bhupinder Singh.
