PJT Partners Expands into the Middle East with Acquisition of deNovo Partners

PC: Consultancy-me.com

The acquisition marks PJT Partners’ formal entry into the Middle East with the opening of a Dubai office, reinforcing its global footprint

PJT Partners Acquires deNovo Partners

PJT Partners, a global investment bank and financial advisory firm headquartered in New York, said it had entered the Middle East market by taking full control of investment bank deNovo Partners. PJT Partners managed many engagements in the region, but acquiring deNovo Partners has given PJT Partners its first physical presence in the region. Of course, in addition to New York, deNovo’s Dubai office joins ten locations operated by PJT, including London, Paris, Frankfurt, Hong Kong, and Tokyo.

Paul Taubman, Chairman and Chief Executive Officer of PJT Partners, announced the acquisition. He said he looks forward to having the deNovo Partners on board with PJT Partners in further extending the firm’s reach globally. “We are pleased to welcome deNovo Partners to PJT Partners as we continue to expand our global footprint. We look forward to building upon our strong partnership to better serve clients in the Middle East, as well as international clients with business interests in the region,” said Taubman.

deNovo Partners Background

deNovo Partners was founded in 2010 by May Nasrallah, the former head of Morgan Stanley’s investment banking business across the MENA region. Today, deNovo Partners has grown into a team of 20 individuals, and its senior members have long-term experience at top-tier investment banks and financial advisory firms.

It has a very good reputation in M&A, capital raising, debt advisory, financial restructuring, and valuations. To date, deNovo Partners has closed over 100 transactions valued at more than $15 billion.

In 2024, the firm advised on two deals ranked in Euromoney as Deal of the Year in 2024. Those included advising Dubai-based GEMS Education on securing financing of $3.25 billion, one of the largest private-sector M&A transactions in the region, and guiding Lebanon-origin company Brands For Less through its sale of a 35% stake to The TJX Companies, valuing the retailer at $1.2 billion.

Deepening Relationships Through Full Integration

It is an extension of the strategic alliance that PJT Partners and deNovo Partners established in 2020. The full integration is seen as the natural next step for the two firms, which have a long and strong relation with each other. Founder and CEO at deNovo Partners, May Nasrallah, described this close relationship, mentioning that she has been working closely with PJT’s leadership for decades.

“I have worked closely with the leadership team of PJT Partners for decades and have a deep admiration for the world-class platform they have established in such a short period of time. Together, we will build upon this strong foundation by enhancing our capabilities and better serving clients globally,” Nasrallah said.

Such a strategic acquisition will further strengthen PJT Partners’s foothold in the Middle East, which continues to show healthy growth and enormous potential in the global financial and investment landscape.

Common Commitment to Excellence

Nasrallah emphasized that with regards to the decision joining PJT Partners it was actually core values alignment and mutual commitment to delivering the best quality of advice to their clients. “We are excited to join their organization, they share our commitment to delivering the highest quality advice, she added.

Paul Taubman and May Nasrallah share a common professional history as each has worked at Morgan Stanley in the early years of their careers. The experience gained in global financial services will provide the drive needed for the success of this new partnership.

Prospects Ahead

This deal is to close next month, but the specific terms for its acquisition are kept confidential. This move indicates that PJT Partners has intentions of growing its global operations further by bringing its services to a wider geographic landscape for its clients.

The firm adds the Middle East to its operating regions as an important milestone in PJT’s strategy to grow global presence through partnerships and acquisitions by acquiring deNovo Partners.