For global asset managers, the Middle East has rapidly become one of the most compelling and strategically significant regions to operate in. It stands not only as a gateway to extraordinary pools of capital but also as a place where ambitious funds can directly engage with some of the largest and most influential investors on the planet. Within its borders lie sovereign wealth funds and private family offices whose combined financial might runs into the trillions of dollars, and these institutions are continually seeking fresh partnerships, innovative strategies, and trustworthy long-term collaborators. For firms hoping to raise capital or identify underexplored markets with genuine growth potential, the Middle East—especially hubs such as the United Arab Emirates—offers a rare blend of opportunity and relatively limited competition, prompting more managers to spend extended periods developing relationships and exploring possibilities in this dynamic geography.
However, as Viraj Sawhney, the head of Middle East private equity at Warburg Pincus, cautions, conducting business in the Gulf bears little resemblance to doing so in financial capitals like New York or London. Having once built his career across Asia before relocating to Dubai, Sawhney explains that the region’s atmosphere and business rhythm feel far more aligned with Eastern traditions than Western corporate norms. Speaking at SuperReturn Middle East, a leading private capital conference hosted in Dubai, he emphasized that in this part of the world, credibility, local references, and time-tested relationships carry greater weight than sleek marketing materials or polished PowerPoint slides. Here, transactions and fundraising processes are profoundly relationship-driven, a truth acknowledged by both fund allocators and seasoned investors alike.
Awaiz Patni, chief financial officer of a Saudi Arabia–based family office, illustrated this principle during the same conference, remarking that countless general partners arrive hastily, stay for a single day, and expect substantial capital commitments before departing. Such expectations rarely materialize. “Money will only come if you build a relationship,” he explained—underscoring that patience, consistent engagement, and mutual respect matter far more than urgency or corporate salesmanship.
While establishing an office in the Gulf can certainly help demonstrate commitment, it is not strictly necessary for accessing regional capital. A number of the world’s largest hedge funds—such as Millennium, Brevan Howard, Schonfeld, and ExodusPoint—have indeed opened offices in Abu Dhabi or Dubai, motivated partly by professional necessity and partly by lifestyle appeal. The promise of tax-free income, favorable business conditions, and year-round warmth has successfully drawn both institutions and talent to the area. Yet, as one Dubai-based fundraiser for emerging hedge funds noted privately, the idea that local sovereign wealth funds require a physical presence before investing is overstated. Supporting this view, Mark Oshida, the Middle East and Africa regional head for Cambridge Associates, revealed that his consulting firm has long counted many sovereign funds as clients without ever being urged to establish a permanent office. Cambridge Associates only decided to open a local branch when it began deepening relationships with newly arrived family offices—many led by Europeans or Asians who themselves had relocated to leverage the tax advantages and quality of life.
Even so, both fundraisers and investors insist that serious participants must be physically engaged with the region to succeed. Virtual meetings can initiate conversations, but trust and meaningful connections are forged in person. Sawhney articulated this succinctly: “You have to be present, physically present.” That principle is embodied by Charles Myers, founder of Signum Global Advisors, who divides his time between New York and London yet makes frequent visits to the Gulf—five trips in a single year, by his own count—to maintain and deepen his relationships with local partners. Many professionals now see relocation as the logical next step, preferring permanent presence over perpetual flights from Europe, Asia, or the U.S., especially as their firms place increasing strategic emphasis on the region.
Transactions in the Middle East often progress at a slower pace than those in Western markets—a deliberate approach rooted in careful evaluation and trust-building. Taimoor Labib, founding partner and MENA head at private equity firm Affirma Capital, noted that deal timelines here naturally extend longer than in other jurisdictions. Similarly, Max Burke, an Actis director who transitioned from London to Dubai to focus on infrastructure projects such as data centers, affirmed that while opportunities abound, success requires patience and interpersonal dedication. At SuperReturn, he wryly advised colleagues to prepare for countless breakfasts, coffee meetings, and dinners—rituals that form the backbone of professional engagement in this region.
Understanding and respecting regional culture is thus not an optional courtesy but a fundamental prerequisite for doing business. To function effectively, managers must appreciate time-honored customs, from extending hospitality to sharing coffee, which often replaces the Western habit of conducting deals over drinks. Traditional Arabic coffee—typically unfiltered and served from a graceful dallah pot—is as much a symbol of respect and community as it is a beverage. Although alcohol is accessible today in cosmopolitan centers such as Dubai and Doha, many locals emphasize that authentic business interactions here have revolved around coffee for centuries.
Khalil Chami, chief financial officer of the Dubai conglomerate Ali & Sons, summarized the essential mindset succinctly: anyone seeking success in the Middle East must be willing to study the region through a cultural and human lens rather than purely a financial one. “If you’re just here for a transaction, we can tell,” he explained. His perspective echoes throughout the Gulf, even in a city as modernized and globalized as Dubai, where Western-style skyscrapers rise alongside traditional customs. At the SuperReturn conference, the organizers themselves acknowledged this cultural heritage by rolling out an Arabic coffee cart for attendees—a gesture blending formality with authenticity. One London-based fundraiser admitted to making a point, in every meeting with Middle Eastern clients, of mentioning that they buy regional coffee to bring home, a small but sincere token of appreciation that helps bridge cultural divides.
The Middle East’s deliberate pace in decision-making should not be mistaken for inefficiency or indifference. As several locals explained, the extended evaluations arise from a genuine desire to ensure that their partners’ principles align with their own. Family office executive Awaiz Patni framed it clearly: “We want to see if your values align with ours.” In a region possessing vast wealth, the abundance of capital inevitably attracts opportunists and fast-talking dreamers seeking quick profits. Consequently, identifying credible partners is just as important as detecting and avoiding those with dubious intentions. Khalil Chami noted that learning to distinguish between sincere collaboration and shallow opportunism is a vital skill for anyone hoping to thrive in the Gulf.
Viraj Sawhney of Warburg Pincus distilled the traits necessary for navigating this environment into three interrelated virtues: patience, flexibility, and humility. These qualities, he observed, are indispensable in the Middle Eastern business context yet not always consistently displayed in Western financial centers. To thrive here is to accept that relationships develop gradually, that negotiations evolve organically, and that success stems from respect as much as from strategy. And, as Chami concluded with characteristic warmth and humor, there is one final rule for newcomers hoping to earn both trust and opportunity: get used to Arabic coffee.
Sourse: https://www.businessinsider.com/asset-managers-middle-east-relationships-fundraising-coffee-trust-2025-10
