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Global investment bank PJT Partners has acquired deNovo Partners, one of the Middle East’s leading home-grown corporate finance and M&A firms.
Headquartered in New York, PJT Partners is a globally-operating investment bank and financial advisory firm with around 1,000 partners and staff. The firm helps its clients – corporations, financial sponsors, institutional investors and governments – with four main lines of business: strategic advisory, mergers & acquisitions, fundraising, and restructuring services.
The acquisition of deNovo Partners marks the formal entry of PJT Partners in the Middle East. While the firm has worked on numerous deal mandates and engagements in the region, the Dubai office of deNovo Partners becomes its first in the region, alongside ten other offices, including in New York, London, Paris, Frankfurt, Hong Kong, and Tokyo.
“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 Paul Taubman, Chairman and Chief Executive Officer of PJT Partners.
Founded in 2010 by May Nasrallah, previously the head of Morgan Stanley’s investment banking business in the MENA region, deNovo Partners has grown to a 20-person team, with its senior members all having previous working experience at tier-one investment banks and corporate finance advisory houses.
deNovo Partners specialises in mergers & acquisitions (track record of over 100 transactions worth over $15 billion), capital raising, debt advisory, financial restructuring, and valuations.
Notable projects the firm worked on in 2024 include helping Dubai-based GEMS Education secure a $3.25 billion new financing facility (one of the year’s largest private sector M&A transactions in the region), and supporting Lebanese-origin Brands For Less with the sale of a 35% stake to The TJX Companies, at a valuation of $1.2 billion for the off-price retailer.
May Nasrallah and Paul Taubman are both alumni of Morgan Stanley
Building on the strategic alliance PJT Partners and deNovo Partners entered into in 2020, Nasrallah said now was the right time to step up the collaboration into a full integration. “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.”
“We are excited to join their organisation, they share our commitment to delivering the highest quality advice,” she added.
The transaction is expected to close next month. Terms of the deal have not been disclosed.
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