The deal, which is expected to close next month, is expected to help BJT Partners strengthen its presence in the Middle East and give it access to a client base that includes large corporates and government-related entities.
The deal highlights the growing importance of Dubai, which has attracted a number of companies and wealthy individuals in recent years, as a global financial centre.
JPMorgan Chase, the largest bank in the United States, also established a private banking team in Dubai earlier this month.
Banks aiming to expand globally have sought to enter the Middle East, where governments are reducing their dependence on oil revenues and creating attractive investment opportunities.
The region also has a group of the most active sovereign funds, which investment banks can work with.
The deal, whose terms were not disclosed, marks the culmination of a four-year partnership between BJT and deNovo, which was established to provide advisory services to clients in the Middle East.
BJT has worked on some of the largest bankruptcies in recent years in addition to raising finance and advising companies on mergers and acquisitions.
The investment bank was founded by Paul Taubman, a longtime Morgan Stanley veteran, and later merged with the advisory services business of Blackstone Group.
Denovo said it has advised on more than 100 transactions since its founding in 2010.
May Nasrallah, founder and CEO of Denovo, will retain her position following the completion of the transaction.
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