I met the M&A lead for a Single Family Office in Dubai.

He's personally closed over $500M in deals...

The family started as an oil trader in 2009. Now every acquisition has to make that trading business bigger.

More volume, more market access, more control of the flow. If the asset only throws off yield, they pass.

I asked what they're focused on this year:

- Storage terminals and market access. 
- 100% ownership. No partners
- Turkey, Africa, South Asia. Now Brazil
- They prefer emerging market opportunities
- The big mainstream hubs are too crowded

They put $70M into Dubai property over two years.

Then they just...stopped buying.

I asked why they stopped.

"We only buy when there's blood in the streets."

And that's the thing about this office. Most people I meet want the best return they can get. He wants the deal that makes the rest of his business bigger.

Are you sitting on oil assets in these markets?