Triago has appointed a former sovereign wealth fund director as its first partner in the Middle East.
Khuram Maqsood will head the placement agent and secondaries advisory firm’s Dubai office and lead its expansion in the region across all activities, including private equity fundraising, secondaries sales of private equity fund stakes and strategic advisory for limited and general partners, according to statement.
Maqsood joined from Towershare, a Middle East and South Asia-focused consolidator of telecom towers, where he served as chief financial officer. He formerly oversaw a $1 billion private equity portfolio as co-head of industrials and director at Dubai’s sovereign wealth fund, Istithmar World Capital, and helped establish a private equity-focused family office in Dubai for Saudi Arabia’s Bin Mahfouz family.
“Decreased travel and fewer face-to-face meetings between investors and managers mean there’s a greater premium than ever on having strong local expertise at private equity fund advisories,” Triago founder and chairman Antoine Dréan said in the statement. “Khuram has the in-depth knowledge and regional experience we need to stay ahead of the competition.”
Maqsood’s appointment follows a brace of senior hires in Triago’s New York office in August, with Andrew Rosato, formerly of MVision, joining as partner and Simeon Ketchum, formerly of Astor Place Holdings, as principal. The Paris-headquartered firm plans to make additional senior hires in its London and Paris offices, according to the latest statement.
“We’re deepening the talent bench at all levels and in all regions,” Dréan added.
Secondaries deals in the Middle East include Investcorp’s use of preferred equity on a portfolio of assets located in the Middle East and North Africa last October, as Secondaries Investor reported. The Bahrain-headquartered investment manager signed a deal with HarbourVest Partners which would provide liquidity for Investcorp’s existing $866 million MENA private equity investment portfolio.
Founded in 1992, Triago has advised on the transfer of more than 3,000 private equity fund stakes on the secondaries market on behalf of 200 clients globally and undertaken over 50 strategic advisory mandates for general partners and limited partners looking to launch, boost or restructure private equity fund operations, according to the statement.