Samer Sarraf - Investing in the GCC: Private Equity Discipline in Public Markets

In this episode, Tano Santos speaks with Samer Sarraf, Founding Partner and COO of Amwal Capital Partners, about his journey from engineering and construction to Lehman Brothers and ultimately founding a public equities firm focused on the GCC. Samer reflects on lessons from the 2008 financial crisis, why private equity struggled in the region, and how his team applies a private equity mindset to public markets. The conversation examines regulatory change, market structure in Saudi and the UAE, concentrated investing, and a deep dive into Abu Dhabi Ports and much more!        Key Topics:     ●Samer's upbringing in Jordan and the role of education and entrepreneurship in his family (3:35) ● Studying civil engineering at McGill and early career in construction in Paris and Tahiti (9:46) ● Transition to Columbia Business School and pivot toward finance (16:16) ● Joining Lehman Brothers' real estate group and structuring CMBS transactions (17:57) ● Early signs of stress in credit markets ahead of the financial crisis (23:28) ● Moving from investment banking to private equity in the GCC (26:48) ● Why the private equity model struggled in the region (35:02) ● Founding Amwal Capital Partners and testing the strategy with personal capital (31:15) ● The structure and liquidity of GCC public markets, including Saudi Arabia and the UAE (37:24) ● Applying a "private equity DNA" approach to public equities (43:23) ● Using regulatory insight and on-the-ground research as a competitive edge (49:45) ● Portfolio construction and concentrated positioning in regional markets (55:18) ● Case study: Abu Dhabi Ports and the long-term logistics and industrialization thesis (56:27) ● And much more!  Mentioned in this Episode:   ● Amwal Capital Partners   ● Lehman Brothers   ● Abu Dhabi Ports   ● Dubai Ports World   ● McGill University   ● Columbia Business School        Thanks for Listening!    Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at [email protected].    Follow the Heilbrunn Center on social media on Instagram, LinkedIn, and more!