Privos Capital Chief Executive Dan Farrell visited Qatar, Bahrain, and the Middle East last week where he met with leading Arab family offices, merchant families, royal families, ultra-high-net-
Recently featured in Euromoney Magazine, Privos Capital is a global family office advisory firm based in New York that boasts an impressive track record of providing innovative private client and financial services to single family offices, multi-family offices, sovereign royal families, their funds, foundations, and portfolio companies, in leading financial centers, as well as in the BRICS, Next Eleven (N-11), and the Frontier Countries of the Emerging Markets (EMs).
The purpose of Farrell’s visit to the Middle East was to meet Arab family offices and wealthy MENA investors to help them access western markets, form global partnerships with the firm’s vast network of other leading family offices worldwide, get deals done, and increase Arab influence and investments around the world.
Farrell also met with leading Shariah compliant funds, banks and financial institutions who have asked Privos for help in promoting Islamic financial services to international family offices. As a result, Privos is proud to announce that the firm has been asked to put together the world’s first Shariah Family Office Advisory Board, which will be based in Doha.
With considerable experience in the Arab world, Privos has witnessed over the years an explosion of wealth in Qatar and the entire Gulf region. Qatar and Gulf family offices are taking large calculated bets in the world’s leading companies. For example, former Qatar Prime Minister Sheikh Hamad Bin Jassim Al Thani recently bought 60 million new shares in Deutsche Bank recent capitalization raising plan for $2.4 billion.
This newfound Arab wealth is chasing new opportunities and invetments in the western world. Privos Capital reports that Arab billionaires spend as consumers on average $7.5 million per day when visiting London. Today, the average Arab “family office,” defined as “a wealthy family with over $100 million in liquid assets,” spends twice as much as Australian, German and French family offices when on holiday outside the Gulf. Capital spent overseas by wealthy Arabs last year was the highest in since 1961, and by 2018, global Islamic banking assets will reach $3.4 trillion, according to Ernst & Young.
The booming economy in Qatar, Bahrain, UAE, Kuwait, Oman, Saudi Arabia and the greater GCC has created a 10 percent growth in millionaires in the MENA region, with over 59,000 millionaires in the UAE and more than 80,000 in Saudi Arabia. Overall, the Middle East is now home to over 300,000 millionaires, which is the greatest concentration of wealth in the entire world. International investors are flocking to the Gulf to invest in the region and partner with leading Arab family offices, who are becoming the envy of the world.
Privos reports that Arab family offices are now looking outside of the GCC region for investment opportunities and joint venture partners. No longer satisfied with investing only in London or Paris property, or U.S. Twitter pre-IPO shares, Arab investors are venturing into Emerging Markets, Frontier Markets, and the Next 11 (N-11) countries in record numbers. Following the new airline routes opening weekly by Qatar Airways, Emirates, Gulf Air, Kuwait Airlines, and other Gulf based carriers, Arab family office investors and businessmen are traveling the globe in search of new business relationships with other family offices and investors around the world.
Privos reports that when it comes to investments and moving money outside of the Gulf, Arab family offices are on the hunt for global investments, following leading Gulf institutional investors and pension funds who are pouring money in the U.S., Europe, Latin America, Asia and China. Arab family offices LP investors are following this trend.
Privos helps their Arab investors and MENA family office partners with their global expansionist activities by entering into strategic alliances, joint ventures, co-investments, and direct investments with other family offices and royal families around the world. The firm works with family offices to devise and execute innovative and customized solutions to their most pressing challenges worldwide.
“Arab family office investors and ultra-high-net-
Privos works with the finest family offices that run successful private equity firms, hedge funds, fund of funds, venture capital firms, foundations, endowments, and multi-national corporations. Privos family office partners are both LPs and GPs conducting global commerce. Privos professionals help families turn highly complex and confidential financial problems into opportunities and successful liquidity events, whether from an IPO or successful trade sale in the US, Canada, Latin America, Europe, Africa, Asia, Australia, and China.
Privos welcomes any Arab family offices with an interest in participating in this first-ever Shariah initiative to contact the firm for more information. The firm also works with U.S., European, Latin American, Asian, Australian, and Chinese family offices and investors looking to do business in the Middle East with Arab family offices and leading Gulf based investors. Inquires can be sent to firstname.lastname@example.org or www.privoscapital.com.