Lionhart Launches DIFC Office as DFSA Grants License |
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Dubai - 12 August 2008: Lionhart (Middle East) Limited, part of the Lionhart group of companies, a firm specializing in global multi-strategy arbitrage, today announced that it has gained regulatory approval from the Dubai Financial Services Authority (DFSA) to open an office in the Dubai International Financial Centre (DIFC)Dubai International Financial Centre (DIFC)
.The Dubai office will be headed by Jim Quinn who has over 20 years experience in the asset management industry with 10 years experience in the Gulf region. The office opening and the establishment of a dedicated team is the culmination of many years of investing in the Middle East. The increasing sophistication of Gulf investors and the rapid development of economies mean that the region is set to play an increasingly important role in the world's economy. With this new office opening, Lionhart is committing itself to the Gulf region for the long term.
Abdulla Al Awar, Managing Director of DIFC Authority said: "The funds industry in the Middle East has seen rapid growth in the past few years, spurred by the growth of the economy and the availability of a world-class financial services infrastructure. The increasing commitment shown by leading firms like Lionhart in the region will boost the market for funds generally, and for hedge funds specifically. We look forward to providing Lionhart with the services that will support their efforts to develop their business in the region."
Terry Duffy, CEO of Lionhart, comments, "Our global expansion continues with the launch of our Gulf operations. We feel strongly that our track record of achieving strong, absolute, non-correlated annual returns on a consistent basis while maintaining a core commitment to preservation of investor capital fits well with the appetites of investors in the Gulf."
Jim Quinn, Senior Executive Officer of Lionhart (Middle East) Ltd. added: "I am delighted to be announcing the launch of Lionhart's first office in the Middle East. Gulf investors were amongst the first in the world to see the advantages of hedge fund products and we believe that the DIFCDIFC represents the ideal base for our regional headquarters."
-Ends-
ABOUT LIONHART INVESTMENTS LTD:
Lionhart Investments Ltd is a global multi-strategy hedge fund with a strong track record in capital preservation. Established in 1993, Lionhart's management team, which has more than 60 years' collective market experience, is led by founder Terry Duffy and manages assets of approximately 800m USD globally across several strategies and funds. Lionhart's presence in key financial markets enables its traders to seek investment opportunities across all time zones and across all asset classes. The fund's strong operational and corporate governance infrastructure supports an innovative approach to investment by Lionhart's experienced and committed trading team.
For more information, please visit: http://www.lionhart.net
© Press Release 2008
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