Investcorp and Aberdeen Standard Investments (ASI) announced the appointment of Sir Michael Fallon, former Secretary of State for Defence of the United Kingdom, as Chairman of their infrastructure joint-venture, Aberdeen Standard Investcorp Infrastructure Partners (ASIIP). Sir Michael Fallon who has served on Investcorp’s International Advisory Board since 2018, steps up to replace Lord Gerry Grimstone who has joined the British Government as Minister for Investment.
ASIIP aims to participate in the post Covid19 economic recovery and reform in countries across the Middle East by investing in sustainable core infrastructure projects that will have a positive impact on local communities and future generations.
Commenting on the appointment, Mohammed Alardhi, Executive Chairman of Investcorp, said, “We are very pleased to welcome Sir Michael Fallon as Chairman during what is an exciting time for this joint-venture and our new investors. Sir Michael’s wealth of experience in both the private and public sectors, and knowledge of numerous industries, including energy and infrastructure, will be instrumental in delivering on the business’s growth and ambitions.
“We would also like to thank Lord Grimstone for his great contribution to our business to date and wish him much success in his position in Government. He remains a highly respected and valued friend of Investcorp.” Sir Michael served as a British Member of Parliament for more than three decades and held a number of senior governmental leadership roles, most notably as Secretary of State for Defence from 2014-2017. He was previously Minister for Industry and Energy in the government of David Cameron. Amongst other directorships he is currently deputy chairman of Genel Energy Plc.