New York-based alternative credit investment management firm Vibrant Capital Partners has opened its global headquarters at Abu Dhabi Global Market (ADGM), the international financial centre in the UAE.

The firm, which manages approximately $8 billion in assets, serves institutional investors including pensions, family offices and insurance companies globally.

The ADGM has licensed Vibrant to manage a collective investment fund, advise on investments or credit and arrange investment deals, the firm said in a statement on Tuesday.

The office is led by Volkan Kurtas, Vibrant’s founder and Chief Investment Officer, and Alex Nerguizian, Managing Director, who will serve as senior executive officer of the ADGM office.

ADGM, which opened for business in October 2015, has continued to expand and is trying to lure more international companies to Abu Dhabi as part of the country's agenda to diversify the oil-reliant economy.

(Writing by Brinda Darasha; editing by Daniel Luiz)