The emergence of Gulf funds with significant stakes in HSBC and J Sainsbury this year has thrust the region’s investors onto the British high street for the first time.

Until then, with the exception of Dubai International Capital’s purchase of the Tussauds Group, most of the Gulf’s petrodollars had been ploughed into less high-profile companies, real estate and niche private equity deals.

Now, Saudi Arabia’s Maan al-Sanea owns 3.1 per cent of HSBC, the Dubai ruler’s Dubai International Capital also owns a large stake in the bank, and funds controlled by Qatar own 17.6 per cent of Sainsbury, making the emirate the supermarket group’s largest shareholder.