London-based hedge fund Man Group is reportedly planning to seek a license in Abu Dhabi, joining the rush of global asset managers expanding into the Middle East. The company, which oversees assets worth $214 billion, plans to set up its regional hub in the UAE capital next year, subject to receiving a license, Bloomberg reported. […]London-based hedge fund Man Group is reportedly planning to seek a license in Abu Dhabi, joining the rush of global asset managers expanding into the Middle East. The company, which oversees assets worth $214 billion, plans to set up its regional hub in the UAE capital next year, subject to receiving a license, Bloomberg reported. […]
UK’s Man Group seeks to re-enter the UAE
London-based hedge fund Man Group is reportedly planning to seek a license in Abu Dhabi, joining the rush of global asset managers expanding into the Middle East.
The company, which oversees assets worth $214 billion, plans to set up its regional hub in the UAE capital next year, subject to receiving a license, Bloomberg reported.
The hedge fund ran its regional operations from the Dubai International Financial Centre between 2005 and 2016.
“Abu Dhabi has established itself as a dynamic and important global financial centre with a strong focus on innovation and AI, which aligns well with our business,” a company spokesperson said.
Man Group’s planned operations will include distribution, investment, trading and execution, which is expected to be scaled over time, the report said.
In September Abu Dhabi Global Market, a financial free zone in the UAE capital, said it recorded its best half-year performance since its inception 10 years ago. It granted 1,869 new licences, a 47 percent year-on-year increase, bringing the total number of active licences to 11,128.
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