A couple of weeks ago, I hopped on a plane to Dubai to see for myself the inventory behind Tradebacked’s trade finance vehicles. We’ve been doing deep due diligence on Tradebacked for the past two years, and I’ve served on the investment committee for TB Fund 2—but until now, I hadn’t visited the warehouses where many of the assets are stored.
What I Saw on the Ground
The warehouses I visited are in Jebel Ali Free Zone—better known as JAFZA—a massive, highly secure business and logistics hub with its own port. Jebel Ali Port is the largest man-made harbor and busiest port in the Middle East. I toured four warehouses, checked the paperwork, and inspected everything from barrels of chemicals to huge steel plates used in shipbuilding and construction. Between the tight security, constant surveillance, and the fact that you’d need cranes to move most of the materials, it’s safe to say nobody is walking out the door unnoticed.
Bottom Line
I left more confident in the security of the assets as well as reminded how important it is to see and inspect for yourself.
