Rarely a day goes by when the name Tchenguiz doesn’t appear on the pages of the business press. Today is no exception – Vincent Tchenguiz is reported to be in the race to buy Paragon Healthcare, the residential homes company, for about £350 million. Tomorrow it could be his brother Robert who is linked to another property deal.
The brothers grew up in Iran, sons of Jewish-Iraqi immigrants and were educated in North America, With the overthrow of the Shah in 1979 the family was forced to flee to Britain and the brothers started buying blocks of flats around the country. Then followed whirlwind years of wheeling and dealing which created the £4 billion Rotch Group but although in 2003 they decided to go their separate ways the deals have continued at a fast pace.
You name it and one or other of the Tchenguiz brothers are involved. Robert owns the Pubmaster chain, Odeon Cinemas and in 2004 he made an audacious bid for Selfridges. For Vincent, who describes himself as a ‘financial technician’ it is buying and selling some Hilton Hotels or a chunk of Dixons’ property or it could be using his wizardry to refinance 200,000 residential properties and 2,000 commercial sites. However, his sights are beyond property and into early investment in environmental technology, security and biotechnology businesses.
Both have all the trappings of wealthy playboys….they live in big houses, work hard and play hard. While interviews are a rarity, they use the media skillfully when a deal is in play.
Their one aversion is for photographs and the image above, which was published on the British Iranian Business Association, purports to be the only available photograph of them together.