Nemir Kirdar, the founder of Bahrain’s Investcorp and top figure in the region’s private equity market, has died at the age of 83.
Kirdar ran Investcorp for more than three decades helping it to become one of the biggest alternative investment firms in the region.
Born in Iraq and educated in Britain, Kirdar founded Investcorp in 1982 after previously working for Chase Manhattan Bank in the UK. Under his leadership, Investcorp acquired a number of trophy assets, including Gucci, Tiffany and Saks Fifth Avenue.
“I am deeply saddened by the loss of Nemir Kirdar, Investcorp’s founder, my predecessor, friend, mentor and a great man of virtues and values,” said Investcorp’s executive chairman Mohammed Al Ardhi.
Among the other tributes was one from Abdulla Al Zamil, chairman of Gulf International Bank and the son of a former board member at Investcorp. “He was the father of private equity in the Gulf. No one knew what it was and he took it upon himself to localise it in Bahrain,” he said.
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