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Man Group, the London-listed hedge fund manager, is the latest to join a wave of investment firms setting up offices in the UAE in a bid to woo Middle East investors.
With over $228.7 billion in assets under management, the alternative investment firm is opening an office at the Abu Dhabi Global Market (ADGM) and has submitted its application for a Category 3A licence.
The world’s largest publicly listed hedge fund manager said the Abu Dhabi outpost is a part of its “continued expansion in the Middle East”, as it looks to “establish a strategic hub in the emirate”.
This announcement comes amid several global asset managers and alternative investment firms setting up base in Abu Dhabi, including Bain Capital, Barings, Rokos Capital Management and Hillhouse Investment.
Earlier today, global asset manager Capital Group also announced it would set up its first office in the Middle East later this year at ADGM.
(Writing by Bindu Rai, editing by Seban Scaria)
