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The Dubai International Financial Centre (DIFC), "The Gate", pictured on July 10, 2008 is the first building (completed 2004) in the Dubai Financial District near the Emirates Towers at Sheikh Zayed Road. Rising 15 storeys, The Gate is the architectural signature building of the 110-acre DIFC. Designed by the US architects Gensler, this iconic building houses the executive offices of the DIFC Authority, the DFSA, and leading international financial institutions. AFP PHOTO/MARWAN NAAMANI (Photo by MARWAN NAAMANI / AFP)
London-based Capricorn Fund Managers is setting up a regulatory hosting solutions platform for Dubai International Financial Centre (DIFC)-based investment managers across hedge funds, private equity and venture capital firms.
Established as an Incorporated Cell Company (ICC), the platform will help firms to run their funds under Capricorn’s licence, rather than having to secure separate regulatory licence from the Dubai Financial Services Authority (DFSA).
Capricorn said the platform will enable investment managers to scale operations as their business develops, reducing day-to-day operating costs, while also giving them access to expertise in risk, regulatory and compliance requirements.
DIFC has more than 400 wealth and asset management firms, including over 60 hedge funds, managing close to $700 billion.
(Writing by Bindu Rai, editing by Seban Scaria)
