Investcorp unveils internship initiative for students in honour of Nemir Kirdar

The 10-week programme will offer university students in the US, Europe, the GCC and Asia practical experience and learning opportunities in the asset manager’s offices

Nineteen university students will take part in this year’s programme across Investcorp’s offices in New York, Bahrain, Mumbai and Beijing. Courtesy of Investcorp

Investcorp, Bahrain’s alternative asset manager that counts Mubadala Investment Company as its biggest shareholder, unveiled an internship initiative in honour of Nemir Kirdar, who founded the firm in 1982 and died aged 83 in 2020.

The Nemir Kirdar Global Internship Programme will provide university students from the US, Europe, the GCC and Asia with practical experience and learning opportunities across Investcorp’s product lines, according to a statement from the company on Thursday. The internship lasts 10 weeks.

“Such initiatives are an essential opportunity to invest in future potential leaders by providing them with practical, hands-on experience,” Mohammed Alardhi, Investcorp’s executive chairman, said.

“It is also an opportunity for us to learn from smart young minds who see the world in a different way. Nemir always encouraged fresh thinking and new ideas.”

Kirdar, a former Iraqi-British banker who was called the "father of private equity", ran Investcorp with close confidants he worked with previously at Chase Manhattan Bank.

Investcorp came onto the world stage with its 1984 acquisition of Tiffany & Co, which it took public in 1987 and pocketed a profit of at least $100 million.

Over the years, Kirdar’s company made many other investments in companies such as Gucci, Chaumet, Saks Fifth Avenue, Circle K, Breguet, Ebel, Carvel Corporation and Tyrrells, where it restructured and turned businesses around.

Investcorp had $40.4 billion in total assets under management at the end of 2021, including assets managed by third-party managers.

Nineteen university students will take part in this year’s programme across Investcorp’s offices in New York, Bahrain, Mumbai and Beijing, where they will intern with different lines of businesses, including private equity, credit management, financial management, business support, legal and compliance, and corporate and investment accounting, according to the statement.

The internship will provide young, bright individuals with exposure and insights into working life to help shape their careers, said Jordana Semaan, diversity, equity and inclusion champion, and head of HR for Gulf and Asia at Investcorp.

Nemir Kirdar helped turn Investcorp into a conduit for Arabian Gulf investors interested in acquiring international assets. AP