Want to hear about your experiences interacting or working (moving or traveling frequently for a ME fund while working in their international office) in the middle east pe / private capital market.
I am thinking of exploring private markets opportunities (direct PE, fund of fund, wealth funds etc) in the middle east.
For context, I am not Islamic or Middle East national. I would be expat there.I am mainly thinking about UAE. I think it's prob good idea to avoid Qatar or Saudi?
Some of our funds work with them. Their own culture is different, of course. But it was fairly straightforward working with them.
When you say "work with", are you planning on moving there?
There are agencies that can place you there, employers need to sponsor your visa and vouch for your contractual agreements.
OP here, yes I mean either moving there or working for one of the funds with international offices and traveling there frequently.
Do you know which recruiters handle ME hiring for top funds.
I was previously approached by HAYS for roles in Dubai and Riyadh.
Hays UAE Website Directions Office F-02,1st Floor,Block 19, Dubai -Born and bred in the middle east - happy to share insight. DM with your questions.
OP Here, hows the comp in the ME? Is it comparable to NYC or London or higher / lower in general?
Bump
Does working at PE in ME (Dubai and other cities) hurt my career if I were to go back to US or EU? How is it viewed? I thought it would be a good opportunity to save up since the cost of living is low and there's no tax.
Yes. You will probably be stuck in the Middle East.
Are there particular reasons? I want to save up some money and invest it to make passive income streams later. I thought Middle East would be a good place since they have a pretty high salary with no tax and relatively low cost of living (compared to nyc). Would love to hear more details.
If I’m a senior at a PE firm in the US why would i want to hire someone who works outside the US when there is no shortage of talent here? US firms generally just hire from the US. Maybe you could network your way in if from London given it’s usually considered as an equivalent financial capital with NY but otherwise it will be tough. I’ve seen a couple of people try to do it and it was challenging.
Makes sense. But what if I start my career in ny in analyst and associate levels, move to ME for VP or higher senior level, and come back to US? I believe it would still be a rare case, right? Thank you for advice.
It would be impossible for you to be a senior PE professional in the Middle East (or anywhere with London being an exception but even then it would need to be a transfer within the same firm some how) and then move to the US. It’s just not going to happen in PE, especially at the senior level.Moving around at the senior level in PE is hard enough as is. I would just get this idea out of your head now. If you think making some tax free money earlier in your career is what’s going to set you up - then you aren’t playing the long game of PE. Nothing is wrong with doing PE in dubai or anywhere for matter, you just need to be realistic about what comes next. For now i would just focus into getting into the best banking program you can get into it.
Would stick to US/EU if you wanna go there long-term. Dubai experience is often discounted and priority will be given to lateral hires who have EU/US exp. Not saying it can't be done, but defo an uphill battle
I heard ME SWF paid well but does anyone know the comp progression at those places?
Have worked in the region for years and currently back in US/EU but looking to return. Posters above saying that dubai experience is discounted are generally correct - however one huge caveat is that it depends on the firm you land at. If you’re still at a global name, you’re generally fine as it shouldn’t be hard to move internally /have brand recognition. Anything regional and any SWFs besides Mubadala / ADIA, you’re stuck.
All the top hedge funds are setting up shop there now (check Bloomberg articles). That’s a huge vote of confidence and if you can land a position like that you’re sorted.
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