Global financial firms with over $5tn in assets announce plans to establish ADGM presence

Fourteen financial institutions, collectively managing more than $5 trillion in assets, have announced plans to set up a presence in Abu Dhabi’s financial hub, ADGM, as the emirate’s economy continues to expand rapidly. According to ADGM chairman Ahmed Al Zaabi, the non-oil economy in Abu Dhabi grew by 8% in 2023, contributing over half of the country’s GDP.

Established in 2015, ADGM operates under the English Common Law system with independent courts and a supportive regulatory framework. The location offers global investors and money managers the chance to broaden their regional operations and collaborate closely with major sovereign wealth funds, large family offices, and institutional partners.

ADGM has recently attracted prominent companies such as Pantheon, Blue Owl Capital, Vista Equity Partners, Man Group, Barings, Bain Capital, Cantor, and Adapt Investment Managers. High-profile European asset manager Eurazeo, with €40 billion in assets under management, and global private markets firm Pantheon also recently opened offices in ADGM.

In the first half of the year, asset managers who have already set up operations in ADGM oversee over $2.1 trillion in global assets under management. Al Zaabi highlighted Abu Dhabi’s development in sectors like artificial intelligence, advanced manufacturing, energy, and life sciences, emphasizing that the city is fostering international partnerships, entering new markets, and benefiting from long-term competitive energy, world-class infrastructure, and access to emerging markets.