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US-based Bain Capital, which has $215 billion in assets under management, has opened a new office at the Abu Dhabi Global Market (ADGM). The office will focus on sectors aligned to regional priorities such as aviation, healthcare, digital infrastructure and financial technology.
The announcement follows Bain Capital’s partnership with the Abu Dhabi Investment Office (ADIO) in December, which coincided with the launch of the Fintech, Insurance, Digital and Alternative Assets (FIDA) cluster in the UAE capital that is projected to contribute an additional 56 billion UAE dirhams to direct GDP.
Bain Capital is the latest of a handful of major financial firms to expand into the Middle East amidst heightened geopolitical tensions.
Earlier in April, Singapore-headquartered Hillhouse Investment Management announced setting up a new outpost in ADGM, with the alternative asset manager saying its UAE hub would support its investment activity and client partnerships across the Gulf region.
(Writing by Bindu Rai, editing by Seban Scaria)
