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The Dubai International Financial Center (DIFC) announced today (July 11) that it is the first financial center in the region to enter into an agreement with the Alternative Investment Management Association (AIMA), the pre-eminent representative of the global alternative investment A corporate member of more than 2,100 companies with over $2.5 trillion in hedge fund and/or private credit assets.
The financial entity said the agreement further underpins AIMA’s long-term commitment to the region and DIFC’s growing role as an international center for alternative investments and hedge funds.
DIFC’s five new hedge funds, with a range of investment strategies, will relocate senior staff to Dubai, where they will carry out portfolio management and investor relations activities at the centre.
New entrants include Hudson Bay Capital, Asia Research and Capital Management, King Street Capital, Balyasny Asset Management and Verition Fund Management.
New private equity firms to set up regional offices in DIFC during the second quarter included TPG Global, Rockpoint and CVC Capital Partners, demonstrating broader growth in the alternative investment category and demonstrating the strength of the center as a thriving environment for international firms in the alternative investment space.
CEO Arif Amiri reiterated Dubai’s status as a destination of choice for alternative investments and global hedge funds: “DIFC is delighted to be the first financial center in the region to partner with AIMA. Innovation and cross-border Collaboration attracts capital flows and opportunities. Growth market for high-performing hedge funds with a range of investment strategies.”
“This agreement marks another pivotal moment for Dubai and DIFC as we continue to attract world-class talent while driving the future of finance by providing the alternative investment industry with a robust and highly connected ecosystem enabling them to manage their global Portfolio efficiency,” he noted.
Jack Inglis, CEO, said: “Over the past year there have been numerous reports of alternative investment managers opening offices in the UAE, including some of the biggest names in the industry. AIMA enjoys member representation in the region We have been with us for more than 15 years and have closely followed its development as an important global financial center not only for alternative investments but also for the wider asset management industry.”
He added: “By signing this MoU, we are delighted to partner with DIFC’s recognized industry leader to further assist our members in Dubai and support the maturation of the alternative asset management industry in this dynamic place.”– trade arab news agency
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