Investcorp founder Nemir Kirdar to step down after 32 years

 
Michael Bow
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Investcorp boss Nemir Kirdar will step down from the group he founded in 1982 next June
Investcorp founder Nemir Kirdar will retire from the group next year after more than 30 years at the heart of the Bahrain-based group.

“I step down satisfied that Investcorp is now firmly established as a global financial institution,” he said.

Kirdar, who is executive chairman and chief executive of the firm, will retire on 30 June 2015 and be replaced by board director Mohammed Al-Ardhi as chairman and Mohammed Al-Shroogi and Rishi Kapoor as co-chief executives.

Kirdar founded the group, which currently has $11bn (£6.8bn) of assets under management, in 1982 and has previously guided its investment into high profile brands such as Tiffany & Co and Gucci.

The group makes investments into so-called alternative asset classes such as private equity, hedge funds and property.

“Nemir Kirdar has built one of the world’s most respected and admired organisations with origins in the Middle East,” Al-Ardhi said.

“His contribution and that of Investcorp go far beyond investors and have benefited very many companies and economies around the globe.”

Investcorp’s recent UK deals involve an investment in posh crisps brand Tyrrells Crisps.

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