Investcorp, a Bahrain-based alternative investment firm, yesterday announced the passing of its founder, Nemir Kirdar.
He founded Investcorp in 1982 and led it for over three decades, stepping down from his executive role in 2015, although he continued to serve as chairman until his retirement in 2017.
The firm’s executive chairman Mohammed Alardhi said: “We, the board of directors and employees of Investcorp, are deeply saddened by the death of Investcorp’s highly respected founder, Nemir Kirdar, who leaves behind a significant legacy.”
“Nemir was a true visionary who founded Investcorp 38 years ago and dedicated his career to building and leading a business focused on core values of trust, integrity and respect. The fruits of his efforts are seen today as the business is globally recognised as a leading and pioneering financial institution.
“We shall continue to build on his legacy of success, and our thoughts and prayers go out to his family and loved ones,” he added.
Mr Kirdar was one of the pioneers in creating a successful international private equity business which served as a bridge for Middle Eastern capital being deployed into investment opportunities in the developed markets of US and Europe, at the time of unprecedented wealth creation in the region resulting from the oil price boom.
He chose to make London his home and enjoyed close personal links with many of the world’s political and business leaders.
Mr Kirdar grew up in Kirkuk, Iraq, into a family with close ties to the Iraqi monarchy that ruled until 1958.
He emigrated shortly afterwards to the US.
Subsequently, he earned a bachelor’s degree and got a job as a bank teller in Arizona.
Mr Kirdar received honorary doctorates in humane letters from Fordham University of New York, Georgetown University in Washington DC; in law from the University of the Pacific, California; and in economics from Richmond, The American International University in London.
He was an honorary fellow of St Antony’s College in Oxford University; member of the United Nations Investments Committee, founding member of the International Business Council in the World Economic Forum; member of the Chatham House Panel of Senior Advisers in UK, member of the International Council of the Belfer Centre for Science and International Affairs in the John F Kennedy School of Government within Harvard University and member of the Council for Arab and International Relations in Kuwait among others.
Mr Kirdar is survived by his wife Nada, his daughters Rena and Serra and his grandchildren.
