Jean Aboumrad has been appointed as head of Triago Group’s Dubai office, which will open in October. Aboumrad was previously director of investor relations at global fund management firm DTZ Asset Management. Before this, he was head of development for the Middle East at BLC Bank in Beirut.
Triago, which has offices in Paris and New York, is seeking to establish a presence in the Middle East. Antoine Dréan, president of Triago, said: “Our ambition is to make the Middle East a third strong area of activity, alongside the US and Europe. It is important for us to strengthen our relationships with investors in this part of the world.”
$3 billion of private equity capital was raised in 2006 in the Middle East, and GPs in the region are seeking to raise $24 billion for 2007, according to Private Equity Intelligence.
Founded in 1992 initially as a placement agent for GPs seeking to raise funds, Triago established another business in 2004, Triago-X, for LPs seeking to divest from private equity funds. The firm recently hired Jean-Marc Cuvilly from Probitas Partners to head its New York office.