Emerging markets investor Mark Mobius is looking to set up a new venture in Dubai, Bloomberg reported on Friday.

The new company will be “involved in investment”, the news agency quoted Mobius as saying, without disclosing further details, as it is still under negotiations.

“It’ll be something quite exciting in emerging markets,” said Mobius, who spent more than three decades at Franklin Templeton and has retired from Mobius Capital Partners, which he co-founded in 2018.

Mobius confirmed recently that he would step back from his role at Mobius Capital Partners to work on some “exciting new projects” in Dubai.

“I will be shifting my focus and dedicating more time to exciting new projects in Dubai, centred around entrepreneurship, investments and consulting. I also have two new books coming out soon,” Mobius said on Twitter last Monday.

Veteran investor

Mobius is dubbed as one of the pioneers of emerging markets investing.

During his tenure at Templeton, the money manager launched several funds across Asian, African, Eastern European and Latin American markets and helped expand the company’s assets from $100 million to more than $50 billion.

According to Bloomberg, Mobius has lived in the emirate for the past three years and has invested in Dubai properties, including two residential units with Burj Khalifa views.

He’s also looking to invest in financial services companies in Dubai and acquire shares from family-owned businesses.

(Writing by Cleofe Maceda; editing by Seban Scaria)