ABU DHABI - Gulf Capital today announced that it has been awarded a Financial Services Permit (FSP) from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM).
The newly granted licence will enable Gulf Capital to manage assets and funds as well as to perform other regulated asset management activities in or from the Abu Dhabi Global Market.
Launched in Abu Dhabi in 2006, Gulf Capital has now offices in Abu Dhabi, Dubai, Riyadh, Cairo, and Singapore, with its newly inaugurated global headquarters based in ADGM. The company, which was launched in Abu Dhabi in 2006, has a solid and long track record of investing private capital to build global leaders out of the GCC and is now well positioned to capture the phenomenal growth across the West-East Asia corridor.
Hareb Al Darmaki, Chairman of the Board of Gulf Capital, said, “We are committed to expanding our presence in Abu Dhabi and to basing our global headquarters in the prestigious ADGM. Receiving a full asset management licence from FSRA will help us meet investors’ increasing demand for more regulated and transparent asset management activities within an established world-class financial centre. Gulf Capital remains steadfast about upholding the highest standards in our asset management operations, which are reflected in the international best practices that ADGM has embedded in its standards and regulations.”
ADGM offers a sophisticated and deep financial ecosystem and strategically connects the East and West regions. It continues to bolster its leadership position amongst financial centres globally.
Ahmed Al Zaabi, Chairman of ADGM, said, “We congratulate Gulf Capital on securing the FSRA asset management licence and welcome the team to the ADGM family. Our world-class regulatory framework will help Gulf Capital reinforce its position as a private equity market leader which operates in a trusted and regulated environment.”
Gulf Capital has US$2.4 billion in assets under management (AuMs) and has to date closed 38 investments.