Global investment management firm Hillhouse Investment Management said on Thursday it has opened a new office ​in Abu Dhabi's ⁠financial centre, one of the first companies to announce it is ‌pushing ahead with a base in the hub since the beginning of the ​Iran war.

The conflict, which started on February 28 when the United States and Israel ​launched coordinated ​strikes against Iran, has disrupted travel and business in the region, as Tehran launched strikes across Gulf countries, forcing several companies to close ⁠offices temporarily.

The UAE has become increasingly attractive to companies and high-net-worth individuals in recent years, thanks to its tax-free environment and ease of doing business.

Here are some details:

* Hillhouse, which has over $100 billion in assets ​under management, is ‌known for ⁠its hedge fund ⁠and private equity investments and has also moved into real estate and private credit.

* ​The Singapore-based firm was an early investor in ‌Chinese tech giants such as Tencent Holdings, ⁠JD.com Inc and Baidu.

* In the United Arab Emirates, it has invested in corporate service providers Virtuzone and Clara via its Ascentium platform. It also invested in the education real estate space.

* Abu Dhabi, home to 90% of the UAE's oil reserves, has intensified its push to diversify beyond hydrocarbons by leveraging its vast sovereign wealth funds

* Its financial centre, Abu Dhabi Global Market, reported a 36% rise in ‌assets under management last year, while the number of total ⁠active licences at the hub rose 30% ​to reach 12,671 as of the end of December.

* Investment firm Muzinich & Co opened an office in ADGM earlier this week

* Hillhouse declined to immediately ​comment on ‌progress to raise $7 billion for a private equity fund ⁠in Asia that the firm kicked ​off late last year. (Reporting by Reuters Editing by Matthew Lewis)