GF
Sector: Private equity / Venture capital
SWF set to double staff numbers
Bahrain’s sovereign wealth fund (SWF) is set to embark on an international shopping spree and is doubling its headcount to prepare for this push. The $10bn Bahrain Mumtalakat Holding Company, the kingdom’s main investment arm, has so far limited its investments to the GCC – with the exception of a 30% stake in Formula 1 [...]
Bankers wanted to befriend sovereign wealth funds
Both Lehman and Morgan Stanley have appointed bankers to liaise with sovereign wealth funds (SWFs) in the Middle East. It looks like the start of a new trend. This week, Lehman announced that it had appointed private equity veteran Makran Azar in the newly created role of global head of sovereign wealth funds. Lehman follows [...]
Private equity heading for new peaks
With the value of private equity deals in the Middle East tipped to soar to $670bn over the next 10 years, it’s no wonder firms are scrabbling to bolster their teams in the region. If the ambitious target is achieved, it will vastly overshadow the $22.8bn raised by private equity firms in the region between [...]
Is it still a man’s world?
Are more women in the Gulf breaking into top-level positions in financial services, or is it still a male-dominated industry? Figures from the US Equal Opportunity Commission paint a cosmopolitan picture of the industry state-side. In the banking/credit arena, women make up 48.6% of the workforce, whereas in the securities market – the sector with [...]
Editor’s take: Duff staff at sovereign wealth funds?
Flush with cash they may be, but it’s not the size of your sovereign wealth fund that matters, it’s what you do with it that counts. Keen to diversify away from the oil that has filled their pockets, Middle Eastern SWF funds have made some high-profile international investments of late, but they’re not exactly posting [...]
Sovereign wealth funds will leave you out of pocket
They might have lots of money, but they don’t pay very well. Sovereign wealth funds (SWFs) such as Dubai International Capital (DIC) and China Investment Corporation are on the lookout for new staff. However, while SWFs are the new hot thing, working for them is liable to leave your bank account feeling rather chilly – [...]
Dubai benefits from global private equity admin focus
Dubai is a new hot spot for private equity fund accountants, as the front office booms and admin firms set up shop in the region. With private equity giants like Dubai International Capital, Abu Dhabi Investment Authority and US firm Carlyle Group in the emirate, the administrators are going where the business is. Though big [...]
Private equity firms paying up
A new salary survey suggests Gulf private equity funds’ pay is comparable with, if not better than, their counterparts in the West. An associate working in the Middle East can expect to take home anywhere between US$80k and US$130k a year tax free, plus a 50% to 100% bonus, according to London-based recruitment firm EM [...]
Private equity is just the job in the Gulf
Gulf-based private equity staff are already paid more than colleagues in New York and London. And they could be on track to earn even more. Local recruiters say demand for private equity (PE) professionals has swollen in recent months as more and more money finds its way into the region. “Private equity has really been [...]
Destination Saudi Arabia
Saudi Arabia may not sound like the most enticing place for expats, but it’s attracting increasing numbers of them to its growing banking sector. Headhunters report gargantuan growth in Saudi finance jobs. Given banks’ interest in the kingdom, this is hardly surprising. Deutsche Bank, JPMorgan, HSBC and BNP Paribas are already there. Goldman Sachs and [...]
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