Founder and Managing Partner
Caravanserai Partners LLC
Zubaid Ahmad is the Founder and Managing Partner of Caravanserai Partners LLC (“Caravanserai” or the “Firm”), a merchant banking boutique offering differentiated and trusted advice on a range of M&A and sovereign advisory, strategic capital raising and asset management transactions. The Firm seeks to use its unique insights into a number of important geopolitical trends currently driving new economic partnerships that it believes, in turn, will generate attractive investment and partnership opportunities for its clients. Caravanserai is also targeting opportunities in China and those arising out of the China Belt and Road Initiative (“BRI”), a transformational economic development program directed towards emerging economies. Mr. Ahmad started Caravanserai after over a 30-year career at a number of leading global investment banks as senior advisor to private and public-sector corporations, private equity, sovereign wealth and pension funds as well as governments, across a range of strategic advisory and financing issues. He has worked extensively across all regions of the globe, both in developed and growth economies, including Asia (inclusive of GCC and Central Asia), Africa and Latin America. In the context of BRI, Mr. Ahmad has spent considerable time in China and served as a senior banker to a number of China’s key public-sector institutions, including state investment funds, in sourcing global transaction opportunities.
Prior to forming Caravanserai, Mr. Ahmad was a Vice Chairman of Citigroup’s Institutional Clients Group and Co-Head of Global Asset Managers group, where he led Citi’s global coverage of private equity funds, sovereign wealth and pension funds (“SWFs”), family offices and other alternative asset managers. During his time at Citi, he also served as (a) Global Head of Citi’s practice with SWFs and built it into an industry leading franchise; (b) Global Head of Public Sector Group, which managed the firm’s relationships with government clients across the globe; and (c) Chief Operating Officer of the Global Corporate and Investment Banking division.
Mr. Ahmad was a member of several of Citi’s senior management committees and represented Citi on a number of external Boards. Before Citi, Mr. Ahmad held a number of other senior roles, including serving as Vice Chairman and Head of Corporate Finance - Americas for Standard Chartered Bank; Vice Chairman at J.P. Morgan Securities, Inc. where he served both as Chief Operating Officer - Americas Investment Banking, and was closely involved in the acquisition and integration of Bear Stearns, as well as a senior member of the Financial Sponsor group; Managing Director in both the Global Corporate Finance (focused on executing large and complex cross-border transactions in the Emerging Markets) and Financial Sponsor/Leveraged Finance groups at Credit Suisse; Director and Head of Capital Markets at Wasserstein Perella & Co.; and Vice President at Drexel Burnham & Lambert.
Mr. Ahmad received his BSBA (magna cum laude) from Georgetown University and his MBA (with distinction) from the Harvard Business School. He has been a regular attendee at the Annual Meetings of the World Economic Forum, the IMF/World Bank, Milken Institute as well as the International Forum of Sovereign Wealth Funds. He currently serves as a Senior Advisor to Muzinich & Co, a leading corporate credit manager (AUM of ≈ $33bn), and Actis, a leading Emerging Markets focused private equity firm (AUM of ≈ $7.5bn). He is also a member of the Board of Advisors at the McDonough School of Business at Georgetown University, where he has also been a guest lecturer.
Profile as of 24/01/19