"But operating in the Gulf is not the same as working in New York or London, warns Viraj Sawhney, head of Middle East private equity for Warburg Pincus. The region "feels more like the East than the West," said Sawhney, who lived in Asia before relocating to Dubai. At SuperReturn Middle East - a private capital conference in the UAE's largest city - he noted that local references and long-term relationships matter more than flashy PowerPoint presentations."
"Transactions and fundraising are relationship-driven, according to both fund allocators and investing professionals. "So many GPs fly in for a day and expect a check at the end of the day," said Awaiz Patni, chief financial officer of a Saudi Arabia-based family office, at the SuperReturn conference. "Money will only come if you build a relationship," he said. Offices aren't necessary, but you have to visit"
Asset managers target Gulf sovereign wealth funds, family offices, and local investors that collectively manage trillions of dollars. Fundraising and transactions in the region rely heavily on long-term relationships, local references, and in-person engagement rather than slick presentations. Presence in the region can take the form of occasional visits rather than full offices, though several global hedge funds have opened Abu Dhabi or Dubai offices to attract personnel seeking tax-free living and warm climate. Many general partners make brief visits expecting rapid commitments, but capital typically requires trust-building and face-to-face relationship development.
Read at Business Insider
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