PJT Partners Acquires deNovo Partners, Marking Strategic Entry into Middle East Market

PJT Partners, a leading global investment bank, has announced the acquisition of Dubai-based deNovo Partners, one of the Middle East’s foremost corporate finance and M&A advisory firms. This strategic move marks PJT Partners' formal entry into the Middle East, expanding its global footprint and enhancing its service capabilities in the region.

Headquartered in New York, PJT Partners operates worldwide with around 1,000 professionals. The firm specializes in strategic advisory, mergers & acquisitions, fundraising, and restructuring services. By acquiring deNovo Partners, PJT Partners now strengthens its presence in a key financial hub, positioning itself to better serve regional and international clients with business interests in the Middle East.

A Strategic Expansion into the Middle East

While PJT Partners has previously worked on several high-profile deals in the Middle East, the acquisition of deNovo Partners establishes its first physical office in the region. This new Dubai office joins PJT’s network of offices located in major financial centers such as New York, London, Paris, Frankfurt, Hong Kong, and Tokyo.

“We are delighted to welcome deNovo Partners into the PJT family as we continue to grow our global footprint,” said Paul Taubman, Chairman and CEO of PJT Partners. “This acquisition strengthens our ability to serve clients both in the Middle East and internationally, leveraging deNovo’s deep regional expertise.”

deNovo Partners: A Regional Powerhouse in M&A

Founded in 2010 by May Nasrallah, a former head of Morgan Stanley’s investment banking business in the MENA region, deNovo Partners has established itself as one of the leading home-grown corporate finance and M&A firms in the Middle East. The firm has grown into a 20-person team, with its senior professionals bringing extensive experience from top-tier investment banks and financial advisory firms.

deNovo Partners has a strong track record in mergers & acquisitions, having completed over 100 transactions valued at more than $15 billion. The firm also specializes in capital raising, debt advisory, financial restructuring, and valuations, making it a well-rounded player in the region's financial services industry.

Notable transactions for deNovo Partners in 2024 include securing a $3.25 billion financing facility for Dubai-based GEMS Education—one of the largest private-sector M&A deals in the Middle East this year. The firm also facilitated the sale of a 35% stake in Brands For Less, a Lebanese-origin retail company, to The TJX Companies at a $1.2 billion valuation.

A Long-Standing Partnership Becomes Permanent

The acquisition builds on a strategic alliance that PJT Partners and deNovo Partners formed in 2020. According to Nasrallah, the timing was ideal for a full integration. “Having worked closely with PJT Partners for years, I’ve always admired the world-class platform they’ve built in such a short span of time. This merger allows us to enhance our capabilities and serve our clients on a truly global scale,” she said.

Nasrallah, a seasoned finance professional with decades of experience, sees the acquisition as a natural progression. She emphasized the shared commitment between both firms to delivering high-quality advice and maintaining long-term client relationships. “We are thrilled to join forces with PJT Partners. Together, we can build on this strong foundation and expand our services to clients globally,” she added.

What the Acquisition Means for PJT Partners

For PJT Partners, this acquisition significantly enhances its ability to navigate the Middle Eastern market, an increasingly important region for corporate finance and M&A activities. With deNovo Partners' established reputation and expertise, PJT gains access to a deep network of regional businesses and investors, providing a solid platform to grow its operations across the Middle East.

The deal, whose terms have not been publicly disclosed, is expected to be finalized next month. This acquisition is a key milestone in PJT Partners’ strategy to extend its global reach and further penetrate high-growth markets.

As PJT Partners continues to expand its presence internationally, the firm’s integration of deNovo Partners signals its commitment to delivering top-tier financial advisory services across the globe, while leveraging local expertise to create more value for its clients. 

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