Swiss derivative investment company Adapt Investment Managers (IM) is opening an office at Abu Dhabi's ADGM, the latest to join the growing roster of international asset managers at the emirate’s financial hub.
The move to Abu Dhabi is part of Adapt IM’s push to expand its team as well as its global footprint to serve clients through major global financial hubs, the company, which manages $2 billion in client assets, said in a statement on Wednesday.
The office at the ADGM is Adapt IM’s fourth globally, adding to existing hubs in Geneva and Zug in Switzerland, as well as New York.
The company's base in the UAE capital, one of the fastest-growing financial centres in the Middle East, will broaden Adapt IM’s client coverage across major regions and time zones, bringing the firm closer to its Middle Eastern institutional investors, it said.
“We have strong conviction in the UAE’s long-term project,” Alexis Maubourguet, founder and chief investment officer at Adapt IM, said. “Establishing a presence in Abu Dhabi brings Adapt IM closer to institutional partners who share our strong focus on portfolio construction and our long-term investment horizon.”
Adapt IM’s presence in the ADGM follows $315 billion private credit provider Blue Owl’s move to set up a base in Abu Dhabi in June. The two are among several alternative investment managers who have chosen the emirate as a base, underscoring its continued appeal for global asset managers and financial giants despite war-driven uncertainties.
The UAE, like its Gulf and wider Middle Eastern peers, initially faced waves of missile and drone attacks from Tehran after the breakout of the US-Israel war with Iran on February 28. However, the conflict, now in its sixth month, has not deterred international financial firms, including several trillion-dollar asset managers, from setting up an operational base in Abu Dhabi.
A base in the UAE capital provides global investors and money managers with opportunities to expand regional operations and work closely with some of the world's largest sovereign wealth funds, as well as large family offices and institutional partners.
Adapt IM said Daniel Mullarkey was leading its Abu Dhabi office as general manager and would focus on investment research and regional liaison to support Adapt IM’s global investment platform.
The company is also investing heavily in hiring and capability-building, making 11 appointments since October last year to bolster its global investment platform.
The company is adding senior portfolio management expertise in emerging markets, equities and rates to strengthen research and risk capabilities.
