Global financial institutions managing more than $5 trillion in assets have announced plans to establish a presence in Abu Dhabi’s financial centre ADGM amid rapid expansion of the emirate’s economy.
Overall, 14 financial firms have plans to set up base at the international financial centre, state news agency Wam reported on Monday, quoting ADGM chairman Ahmed Al Zaabi.
“In 2025, Abu Dhabi's economy grew by 7 per cent and our non-oil economy grew by 8 per cent, contributing more than half of total gross domestic product,” Mr Al Zaabi told the third Abu Dhabi Investment Forum in London.
Established in 2015, the ADGM operates under the direct application of English Common Law, with independent courts and a regulatory framework supporting it.
A base in Abu Dhabi provides global investors and money managers with opportunities to expand regional operations and work closely with some of the world's biggest sovereign wealth funds, as well as large family offices and institutional partners.
ADGM has been attracting a number of high-profile companies in recent months, including global private markets firm Pantheon, private credit lender Blue Owl Capital, tech-focused US company Vista Equity Partners, the world’s largest listed hedge fund Man Group, Barings, Bain Capital, Cantor and Swiss derivative investment company Adapt Investment Managers.
Eurazeo, a European asset manager with €40 billion ($45.2 billion) in assets under management, as well as global private markets firm Pantheon, have also recently opened offices in the ADGM.
Last month, Capital Group, which manages $3.6 trillion in assets, secured a licence from the Financial Services Regulatory Authority of the ADGM to operate as a regulated investment manager.
Collectively, asset managers which had already established operations in the ADGM in the first half of the year oversee more than $2.1 trillion in global assets under management, the ADGM said last month.
Abu Dhabi is developing industries across artificial intelligence, advanced manufacturing, energy and life sciences that will shape future markets, Mr Al Zaabi said, as reported by Wam on Monday.
“Our businesses are extending their international reach, establishing partnerships and entering new markets. Abu Dhabi has long-term capital competitive energy, world-class infrastructure and access to some of the world's fastest-growing markets,” he said.