NEWS
Abu Dhabi is attracting two of the UK’s largest hedge funds, collectively managing $95 billion in assets, as the emirate seeks to expand its financial ecosystem.
Marshall Wace, a hedge fund manager with $65 billion in assets, is among the firms that have engaged in discussions with Abu Dhabi authorities about establishing a presence in the UAE capital, according to various media reports.
Additionally, Capula Investment Management, a London-based hedge fund, is reportedly considering opening an office in Abu Dhabi to extend its operations into the emirate, Bloomberg reported, citing anonymous sources familiar with the matter.
This development comes on the heels of Abu Dhabi Global Markets (ADGM) reporting a 211% increase in Assets Under Management (AUM) in Q1 2024 compared to the first quarter of 2023. By the end of March, the international financial centre (IFC) saw a rise in the number of fund and asset managers operating within ADGM, reaching 107 firms managing 137 funds.
London-based fund managers view Abu Dhabi as a strategic gateway to leverage the region’s growing wealth. In November, British hedge fund billionaire Chris Hohn’s TCI Fund Management Limited, a $60 billion investment firm, opened its office in the UAE capital to build “key regional relationships,” according to the firm.
“The Middle East is a vital market for the investment management industry, both from a talent and asset growth perspective, as well as a critical partner in global efforts to reduce carbon emissions and climate change,” said Christopher Hohn, TCI Founder and Portfolio Manager.
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