DIFC makes alliance with AIMA

Dubai’s ongoing efforts to court international hedge funds continue after the Dubai International Financial Centre (DIFC) signed a memorandum of understanding (MoU) with the Alternative Investment Management Association (AIMA).

The association represents more than 2,100 members with a collective US$2.5 trillion in assets under management.

It is the first agreement with AIMA to be made in the region and has been described by DIFC CEO Arif Amir as “a pivotal moment for Dubai and the DIFC”.

“Innovation and cross-border collaboration attracts capital flows and opportunities in growth markets for high-performing hedge funds with a range of investment strategies,” he said.

In addition to the MoU, the DIFC announced that five hedge funds would relocate senior executives to the financial hub to carry out portfolio management and investor relation activities from Dubai.

Those hedge funds are Hudson Bay Capital, Asia Research and Capital Management, King Street Capital, Balyasny Asset Management and Verition Fund Management.

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