Dubai International Capital, the international investment arm of Dubai Holding, has appointed David Smoot, formerly of Morgan Stanley Private Equity, as a Dubai-based managing director for
Dubai International Capital, the international investment arm of Dubai Holding, has appointed David Smoot, formerly of Morgan Stanley Private Equity, as a Dubai-based managing director for private equity, reporting to DIC Private Equity chief executive Sylvain Denis.
Smoot, 38, was a member of the investment committee at Morgan Stanley Private Equity, leading portfolio investments and helping to build a 35-strong team located in New York and London. Major transactions included the acquisition of Tops Markets from Royal Ahold and the firm’s co-investment with JLL Partners in the acquisition of McKechnie Aerospace.
He has 14 years of experience in investment banking and private equity, including 11 years with Morgan Stanley. Before co-founding the private equity group he was managing director for financial sponsors, advising clients including Bain Capital, Blackstone Group, First Reserve and Warburg Pincus on M&A, IPOs, debt and equity financings. Earlier he spent three years at Salomon Brothers, specialising in energy and chemicals investment banking.
‘David has exceptional experience and relationships in the private equity field as well as expertise in building a best-in-class team,’ Denis says. ‘I look forward to working with him on the development of our growth strategy for DIC’s business in North America.’
Says Smoot: ‘Since its launch in 2004, DIC has made outstanding progress in building a profitable business that manages assets in excess of USD12bn. DIC’s private equity division has established a strong reputation as a specialist in European secondary buyouts and I look forward to working with Sylvain to expand the portfolio in North America.’
