{"id":95957,"date":"2024-09-19T00:00:00","date_gmt":"2024-09-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/pjt-partners-to-acquire-dubais-denovo\/"},"modified":"2024-09-19T00:00:00","modified_gmt":"2024-09-19T00:00:00","slug":"pjt-partners-to-acquire-dubais-denovo","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/09\/19\/pjt-partners-to-acquire-dubais-denovo\/","title":{"rendered":"PJT Partners to acquire Dubai\u2019s deNovo"},"content":{"rendered":"

Big-shot US advisory firm <\/strong>PJT Partners<\/a><\/strong> will acquire Dubai\u2019s <\/strong>deNovo<\/a><\/strong>Partners<\/a><\/strong> to solidify its presence in the region amid a surge in dealmaking, according to a PJT press release<\/a>. The transaction is expected to close next month, subject to regulatory approvals. No details were given about the value of the transaction.<\/p>\n

The leadership will not change:<\/strong> DeNovo founder May Nasrallah (LinkedIn<\/a>) will lead PJT\u2019s regional operations and join its senior team. Nasrallah previously led Morgan Stanley\u2019s investment banking in the region and was instrumental in setting up its Dubai office, Bloomberg<\/a> writes. <\/p>\n

PJT and deNovo go way back:<\/strong> The two firms signed an accord to collaborate on Middle Eastern dealmaking and restructuring back in 2020, Bloomberg<\/a> reported previously. The US-based investment bank and the Dubai-based boutique worked together on cross-border transactions involving major regional firms, sovereign wealth funds, and family offices, as well as advising global investors in the region.<\/p>\n

A \u201cunion\u201d to take things to the next level: <\/strong>\u201cWe started dating four years ago, we really got along amazingly and realized we couldn\u2019t date forever. So we made it official and we are getting married,\u201d founder and CEO of PJT Paul Taubman told the Financial Times<\/a>. Their partnership worked well but \u201cclients like to know that you are one firm and that you are bringing a partner of the firm rather than somebody from outside PJT into a meeting to discuss very sensitive matters,\u201d he added.<\/p>\n

More on deNovo:<\/strong> Established in 2020 by a group of investment bankers, deNovo has grown into one of the Gulf\u2019s leading independent advisory firms, advising on more than 100 transactions, including the region\u2019s two largest private sector M&A transactions this year. The boutique firm now employs around 20 bankers, primarily in Dubai\u2019s financial hub, and recently secured a license to operate in Riyadh.<\/p>\n","protected":false},"excerpt":{"rendered":"

The transaction is expected to close in October<\/p>\n","protected":false},"author":1,"featured_media":95958,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2392],"tags":[1827,87,7,1342,1344,60,1826],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-95957","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-denovo","tag-dubai","tag-enterpriseam-uae","tag-investment","tag-ma","tag-ma-watch","tag-pjt-partners","wpautop","entry"],"acf":{"mongo_id":"533a50a8-f27c-4c2e-89a4-0c7a6a359681","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/212.jpg","photo_position":"above","homepage_title":"","full_issue_title":"PJT Partners to acquire Dubai\u2019s deNovo","related_issue":[95947],"teaser":"The transaction is expected to close in October","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.76adfc4d-9755-43f5-8fb6-4868a658ce0a.mp3"},"yoast_head":"\nPJT Partners to acquire Dubai\u2019s deNovo - 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