Tullett Prebon chases secondaries in Dubai

The London-based brokerage has opened an office in Dubai to service new buyers on the secondaries market, led by Gahtan Vahidy, a former PwC consultant that joined Tullet in 2010.

The Alternative Investments (AI) division of Tullett Prebon, the London-based interdealer brokerage firm, has opened an office in Dubai to service a growing direct interest in the secondaries market across the asset classes.

“Larger investors in the Middle East are becoming more sophisticated and so they may be looking to purchase secondary transactions directly rather than allocating to a gatekeeper or a secondary manager,” said Neil Campbell, head of Tullett Prebon Alternative Investments.

Campbell said the firm would target a wide range of clients, including family offices, the private bank community and sovereign wealth funds, led by newly-appointed head of alternative investments for the region, Gahtan Vahidy, a former PwC consultant and member of the team since 2010.

“It’s pretty hard to build relationships and do business if you’re not on the ground in the region,” said Campbell.

“We recently ran a large real estate process and we had a lot of interest from buyers in the Middle East: it’s an asset class that the region has always liked and understands. Real estate or infrastructure-related investments are going to go down well.”