What a difference a generation makes. Bahrain-listed private equity group Investcorp became one of the first transatlantic buyout firms when it opened its doors nearly 30 years ago, with a plan to tap wealthy Gulf investors for individual deals in Europe and North America. Its strategy was to raise money on a deal-by-deal basis, underwriting all the equity for a transaction before selling it on to investors.

Its status as a veritable training ground for Europe's top buyout executives - including Johannes Huth, European head of private equity at Kohlberg Kravis Roberts, Philippe Costeletos, co-head of TPG Capital, and Philip Yea, former chief executive of 3i Group - testifies to its success.