Carlyle Group to open regional HQ in Abu Dhabi

Private equity giant agrees partnership with Abu Dhabi Catalyst Partners to operate from the city

Abu Dhabi Global Markets Courts will offer a service for financially-stressed clients through both a new Pro Bono office in Abu Dhabi Global Markets Square and a dedicated helpline. Photo: Alamy

The Carlyle Group, one of the world's largest private equity companies, will open its regional headquarters in Abu Dhabi through a partnership deal with Abu Dhabi Catalyst Partners.

The company, which has $224 billion (Dh822bn) of assets under management, will set up its office at the Abu Dhabi Global Market Square under the jurisdiction of ADGM, the emirate's financial centre.

"We are very excited about the presence of The Carlyle Group in Abu Dhabi and look forward to working closely with Abu Dhabi Catalyst Partners to ensure the success of Carlyle's growth initiative in Abu Dhabi," said Glenn Youngkin, co-chief executive of The Carlyle Group. Abu Dhabi Catalyst Partners was set up in April last year as a joint venture between Mubadala Investment Company and Falcon Edge Capital.

Carlyle was established in 1987 as a private equity company, but broadened its remit into private credit, real estate and infrastructure markets.

Earlier this month, the company reported a near-quadrupling of net profit which reached $345.3m last year as revenue climbed an annual 36.6 per cent to $3.37bn.

Carlyle chose the capital as its regional headquarters as the company looks to grow its presence and reach in the Mena region, while looking to work closely with the Abu Dhabi
community.

“We are pleased to have The Carlyle Group establish their regional headquarters at ADGM Square and we are confident that their presence in Abu Dhabi will support their efforts to grow their business globally,” said Waleed Al Muhairi, Mubadala’s deputy group chief executive and chief executive of its alternative investments and infrastructure arm.

Carlyle's private equity interests have included stakes in a range of companies such as management consultancy Booz Allen Hamilton, the Beats headphone and audio equipment business and UK vehicle breakdown recovery company RAC.

Private equity remains the group's biggest business line at $86bn, or 38 per cent of the total assets under management. Global credit is its fastest-growing business line, with $49bn, or roughly 22 per cent of assets. Real assets (infrastructure and real estate) make up 19 per cent and its investment solutions arm the remaining 21 per cent.