TCI Fund Management, controlled by billionaire hedge fund manager Sir Christopher Hohn, and the family office of technology entrepreneur Christian Angermayer have set up offices in Abu Dhabi Global Market in push to expand their businesses in the Middle East.
Presence in Abu Dhabi will allow TCI, a $60 billion investment company, to build key relationships across the region in continuing efforts to catalyse climate action within the private finance sector, the company said on Thursday.
“The Middle East is a vital market for the investment management industry, both from a talent and asset growth perspective, as well as a critical partner in global efforts to reduce carbon emissions and climate change,” Sir Hohn said.
Bronwyn Owen, global head of investor relations has relocated from New York to Abu Dhabi to run the company operation from its base in ADGM.
TCI manages assets for institutional investors from around the world including sovereign wealth funds, corporate and public pension plans, foundations, endowments and for some of the world’s biggest family offices.
Apeiron Investment Group, the private investment firm of serial entrepreneur Mr Angermayer, has also set up its regional headquarters at ADGM, one of the fastest growing international financial hubs in the Middle East.
The company’s Middle East and North Africa operations will be run by its new regional director Salvatore Lavallo, who joins the investment firm from the Abu Dhabi Investment Office, where he served as the head of FDI Attraction, the company said.
Apeiron's aims to have a “significant long term economic impact” in the UAE and will help in relocating and expanding the presence of more than 130 portfolio companies in Abu Dhabi and the broader UAE.
“The companies will be selected based on their alignment with the Abu Dhabi Economic Vision 2030,” it said.
The company will also help in catalysing the UAE's start-up ecosystem, as it continues to focus on venture building including the launch of new start-ups that are aligned with the Abu Dhabi economic goals.
Apeiron is already an active investor in the UAE. Its US venture capital fund, Presight Capital invested in seed investment round of corporate spend management platform, Alaan.
The company is also an investor in Abu Dhabi based applied Artificial Intelligence company, known as AAICO.
"Apeiron's expansion into the UAE represents a significant milestone in Apeiron’s growth strategy and I am excited about what we can do from Abu Dhabi in sectors like biotech, synthetic biology, FinTech and natural resources,” Mr Angermayer said.
“The move demonstrates Apeiron's commitment to investing in innovative businesses and creating opportunities for local talent.”
A growing number of family offices and institutional investors are setting up base in Abu Dhabi’s financial hub amid robust economic momentum.
In April, Ray Dalio, the billionaire founder of Bridgewater Associates the world's largest hedge fund, said he is establishing a branch of his family office in ADGM, as part of expansion in the Middle East.
The Dalio Family Office builds on a 30-year relationship between Mr Dalio and the UAE, ADGM said at the time.
Bridgewater Associates, which was founded by Mr Dalio in 1975, manages more than $150 billion in assets.
ADGM, which is at the heart of Abu Dhabi’s efforts to increase the financial sector’s contribution to the emirate’s economy, grew its assets under management by 52 per cent in the third quarter of this year as it continues to attract global businesses.
The centre welcomed more businesses and boosted the workforce to record levels in the July-September period, as operational entities within the financial free zone grew by 35 per cent on an annual basis to 1,717.
Global financial and consulting institutions that have set up in the ADGM during the third quarter include Sagard, a global multi-strategy alternative asset management company with more than $14.5 billion of assets under management, Tikehau Capital, FTI Consulting and virtual assets platform M2.
