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Hedge Fund Boss Eyes $153 Million London Fixer-Upper Penthouse

(Bloomberg) Suneil Setiya, the co-founder of quant investing firm Quadrature Capital, is in talks to purchase a penthouse in London’s luxury One Hyde Park development for about 110 million pounds ($153 million), according to two people with knowledge of the transaction.Setiya is buying the home from Hasan Ismaik, the former chief executive officer at Dubai-based construction company Arabtec Holding, which entered liquidation last year, the people said, asking not to be identified as the negotiations are confidential.The apartment’s 14,000 square feet (1,300 square meters) interior does not yet have internal walls, is completely unfinished and will require significant further investment, the people said. Setiya did not reply to calls and emails seeking comment. Ismaik did not reply to a LinkedIn message as well as calls and emails to his investment offices in Dubai and Abu Dhabi.A deal would be one of the most expensive home sales in the U.K. and a boost for the stagnant

Saudi Binladin Group names new chief transformation officer

Saudi Binladin Group names new chief transformation officer
tradearabia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tradearabia.com Daily Mail and Mail on Sunday newspapers.

Perella Weinberg Bankers Break to Form New Boutique in Gulf

Perella Weinberg Bankers Break to Form New Boutique in Gulf Bloomberg 1/26/2021 Nicolas Parasie © Bloomberg Morning fog shrouds residential and commercial skyscrapers in the Dubai Marina district of Dubai, United Arab Emirates, on Sunday, Jan. 17, 2021. Dubai is hoping one of the world’s fastest vaccination programs and rapid testing technology will help achieve its goal of holding the Expo 2020 event this year, after the coronavirus pandemic forced a delay. (Bloomberg) Perella Weinberg Partners LP’s Middle East team of bankers left to start its own advisory firm in Dubai to get a slice of the buoyant market for deals and restructurings in the region.

New Restructuring Era in Debt-Laden Gulf Sets Off Hiring Spree

New Restructuring Era in Debt-Laden Gulf Sets Off Hiring Spree Bloomberg 1/21/2021 Nicolas Parasie (Bloomberg) The world’s biggest restructuring firms are boosting their presence in the Gulf region, anticipating a spate of turnaround work as companies succumb to the coronavirus pandemic after years of economic pain. New York-based Alvarez & Marsal Inc., which worked on the Lehman Brothers Holdings Inc. bankruptcy, has already added three seasoned professionals to its Middle East team this year. The hires are part of an effort to expand to about 150 in the region over the next three to five years from just 10 in 2015, according to A&M’s head for the Middle East, Saeeda Jaffar.

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