Taylor-DeJongh, a leading energy and infrastructure investment banking firm, and Phoenix Capital LLC, a Baghdad-based investment bank, announced on Wednesday that they have entered into a strategic partnership to create the first Washington-Baghdad financial services firm.
The partnership will provide specialist industry knowledge and financial expertise to both international and Iraqi public and private sector clients and execute transactions in project finance, M&A, and direct investment, including Shari’a compliant structures. The TDJ Phoenix Capital venture will also provide strategic advice to international firms interested in doing business in Iraq.
The firms will work together to provide strategic, commercial and financial advisory and domestic investment banking services to companies doing business in Iraq. The venture will initially focus on investments in the energy sector, including the entire value chain from upstream oil and gas, and oil services companies, to refining and petrochemicals, as well as power generation, and industrial and infrastructure development.
The partnership will have offices in Washington, DC, and in Baghdad, with plans for offices in Basra and Erbil.
“We believe that the Washington-Baghdad nexus for this partnership will facilitate making well-informed strategic decisions in Iraq,” said TDJ CEO Terry Newendorp. “The Taylor-DeJongh expertise in global energy finance and M&A has found a great professional partner for the opportunities in Iraq.”
Hussain Qaragholi, Managing Partner of Phoenix Capital, lauded the partnership by stating, “Iraq is regarded by seasoned analysts as a potential major oil and gas play and presents a significant emerging market opportunity for US and international investors. The Phoenix Capital and Taylor-DeJongh partnership is timely in providing strategic level access in Iraq coupled with energy finance expertise.”