Investcorp founder Nemir Kirdar passes away

  • Date: 10-Jun-2020
  • Source: Khaleej Times
  • Sector:Economy
  • Country:UAE
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Investcorp founder Nemir Kirdar passes away

Private equity and asset management group Investcorp has announced the death of its founder Nemir Kirdar.. Nemir grew up in Kirkuk, Iraq into a family with close ties to the Iraqi monarchy that ruled until 1958.. It was at Chase that the seeds for Investcorp were sown.. After the first oil price shock in 1973, Nemir recommended that Chase establish a merchant bank in the Middle East.. David Rockefeller, Chase's chairman, endorsed the plan, and Nemir moved to the Middle East.. In 1982, inspired by the vast wealth created by the oil boom, Nemir established Investcorp to serve as a bridge to connect Arabian Gulf investors to attractive international private investment opportunities.. High profile transactions in those early years have included Saks Fifth Avenue, Tiffany and Gucci and Investcorp has been involved in many other transactions since.. 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 recognized as a leading and pioneering financial institution.. We shall continue to build on his legacy of success, and our