US-based HIG Capital is the latest alternative investment firm to set up shop in Dubai.
The firm, which has US$60 billion of assets under management, has opened an office in the Dubai International Finance Centre.
It will be led by managing director Oliver Slade and principal Alexia Klat.
Number of newly licensed firms in Dubai rises by 25%
The new office represents HIG’s first physical presence in the region.
According to Slade, it is “pivotal to our ambition to be the partner of choice in the middle market for our Middle East investors.
Both Abu Dhabi and Dubai have made concerted efforts in the last 12 months to entice more global alternative investment firms to the region.
It was reported this week that Dubai’s financial regulator handed out a record number of new licences in 2023 to financial institutions, a 25% increase on the previous year, with a 125% increase in the number of hedge funds that were newly licensed.