ABU DHABI-- Abu Dhabi Global Market (ADGM), the International Financial Centre (IFC) of the UAE’s capital, has echoed its continuing strong performance with record-setting numbers reported in the third quarter (Q3) of 2023, demonstrating unprecedented growth across various aspects especially the asset management sector as it enters the final quarter on a high note.
ADGM recorded significant growth in Q3 2023 compared to the same period in 2022. Assets under management in the IFC grew by 52 percent in Q3 2023 compared to Q3 2022, while Operational Entities within ADGM increased by 35 percent, with the total number rising from 1,272 in Q3 2022 to 1,717 entities in Q3 2023.
The number of prominent institutions at ADGM continued to grow, with additional global and regional names establishing offices in ADGM, including, but not limited to, Sagard – a global multi-strategy alternative asset management firm with more than US$ 14.5 billion assets under management, Tikehau Capital, FTI Consulting and M2.
ADGM Square’s workforce increased by 26 percent, showcasing an increase in talented individuals choosing Abu Dhabi as their destination to live, work and thrive.