Abu Dhabi Global Market (ADGM) has embarked on a significant trade mission to the United States. This comes in response to the unprecedented demand from major U.S.-based global asset managers in the hedge fund, private equity, and venture capital space. The move aims to solidify ADGM’s position as a key player in the global financial landscape.
Bilateral discussions
ADGM’s delegation included Emmanuel Givanakis, CEO-Financial Services Regulatory Authority; Arvind Ramamurthy, chief market development officer, and other senior ADGM executives. The delegation visited Miami for a series of bilateral discussions at the iConnections Global Alts 2024. This event, recognized as the largest gathering for alternative investment professionals, provided a platform for networking, collaboration, and the exchange of insights within the alternative investment landscape.
ADGM’s distinguished delegation participated actively in the event. Ramamurthy served as a key speaker in the panel discussion titled “En-Gulfing the Alts: Allocator Perspectives on Opportunities in the Middle East,” exploring opportunities in the Arabian Peninsula.
Influx of global asset managers
The iConnections Global Alts 2024 event served as the first of many strategic engagements for ADGM. The roadshow is meticulously designed to open doors to new partnerships and facilitate meaningful connections. Therefore, this further solidifies ADGM’s position as a leading international financial center.
Commenting on the delegation’s participation, Ramamurthy said, “ADGM has been experiencing a significant influx of global asset managers establishing their operations in the IFC of Abu Dhabi.” The most notable asset managers include Brevan Howard, Apollo, NinetyOne, Rothschild & Co, GQG Partners, and TCI. This development has attracted the interest of major global funds in the U.S. Therefore, ADGM was invited to share insights on the unique opportunities and advancements occurring within the financial sector in Abu Dhabi.
“In response to this unprecedented demand of the interest of international firms in setting up in ADGM, we engaged in more than 40 bilateral discussions with hedge funds, private equity funds, and venture capital firms,” added Ramamurthy.
Read: Julius Baer to exit private debt business following $689 million Signa losses
Abu Dhabi’s growing appeal
The UAE is positioning itself as a vibrant business center, and Abu Dhabi is now a favored destination for global asset and fund management entities. Hence, it has witnessed a significant increase in numbers in recent years. During this period, ADGM has experienced a notable expansion in the asset management sector, marked by renowned global entities contributing to a 52 percent surge in assets under management (AUM) in Q3, 2023. Abu Dhabi and ADGM’s status as an all-encompassing financial hub has received further validation at Abu Dhabi Finance Week 2023. Thus, 14 major financial institutions, boasting a total AUM of $452 billion, committed to establishing new operations in ADGM.
Amidst the substantial transformation of the global business landscape, this roadshow underscores ADGM’s dedication to nurturing international connections. Moreover, it highlights Abu Dhabi’s increasing reputation as a driver of growth and innovation within the global business community.
For more news on banking and finance, click here.
