Invest Abu Dhabi has launched a new asset management business which will focus on the Mena equities market.
AD Investment Management (ADIM) will be based in the Abu Dhabi Global Market (ADGM) and will be regulated by the Financial Services Regulatory Authority.
The new business is partly a result of Invest AD’s new multi-boutique structure introduced earlier this year.
“Building out the MENA equity capability was a key strategic initiative at Invest AD,” said Faras Al Ramahi, chairman of ADIM and chief executive of Invest.
“With ADIM’s creation, we now have three asset management businesses established in the ADGM focusing on different asset classes in different regions.”
The new firm plans to launch a number of new funds later this year which will be domiciled in either the ADGM, or in Invest AD’s Luxembourg SICAV platform.
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