The global economy may be undergoing its biggest downturn in recent memory, but the Middle Eastern private equity industry is entering a “Golden Age” according to Gary Long, president and chief operating officer of Investcorp, who revealed the group plans to launch a mezzanine fund to capitalise on local financing opportunities.

During his opening keynote address at the Super Return Middle East conference in Dubai this week, Long said: "Private equity in the Gulf continues to grow. It is big and will become bigger. It will also play an important part in developing local economies in the region.