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Joining other investment firms in expanding their presence in the Middle East, GQG Partners has announced the establishment of a new investment hub in the Abu Dhabi Global Market.Â
GQG Partners
(GQG) has just released plans to establish a formal presence in
Abu Dhabi, after it received an in-principle approval (IPA) from
the Financial Services Regulatory Authority (FRSA) of Abu Dhabi
Global Market (ADGM).Â
This IPA signifies the establishment of an office in Abu Dhabi,
marking a key move for GQG as it steps towards establishing
its first investment hub outside of the US, the firm said in a
statement. This milestone sets the stage for GQG Partners to
entrench its global footprint and enhance its position in key
markets, including the Middle East. Â
The new office recognises the importance of Abu Dhabi and the
Middle East as significant regions for capital markets and
the global asset management industry. GQG said it aims to extend
its services across the region upon receiving final
regulatory approval from the FSRA.Â
“ADGM is committed to building a centre of excellence in asset
management. We believe this will become a significant
component of the global financial ecosystem and we take pride in
being early movers as one of the first long-only investment
managers to develop a meaningful presence there,” said Mark
Barker, managing director and head of international at GQG
Partners.Â
“In our view, excellence in asset management is achieved through
proximity to investors and investment opportunities as well
as attracting the best available talent from around the world. We
believe our office in Abu Dhabi will significantly enhance
our ability to attract that talent,” he added.Â
A number of investment managers have been expanding their
presence in the Middle East recently. For instance, IQ-EQ, the
investor services group that set up in Dubai’s International
Financial Centre (DIFC) earlier this year, announced that it is
establishing operations in Abu Dhabi. Swiss private bank Julius
Baer has also set up a local external asset management (EAM) desk
to serve clients in the Dubai International Financial Centre
(DIFC).
“The UAE is a strategic growth market for Julius Baer along with
the wider Middle East region. The wealth management industry in
the UAE is thriving given the influx of UHNIs and HNIs and we
believe this influx will continue as Dubai continues to position
itself as one of the fastest, safest, and most connected cities
in the world,” Alireza Valizadeh, CEO, Julius Baer (Middle East),
said. See more here and
here.
“We are delighted to welcome GQG Partners to ADGM’s ecosystem. We
are confident that ADGM’s dynamic ecosystem and progressive
regulations will fortify GQG Partners” vision, supporting them in
adding value to the asset management sector, and
contributing to the continuous development of Abu Dhabi’s
vibrant financial landscape and its strategic value to
global finance,” Arvind Ramamurthy, chief of market
development at ADGM, said.Â
Headquartered in Fort Lauderdale, Florida, GQG Partners, which
has more than $100 billion in assets under management, is
committed to delivering long-only equity strategies for its
clients.