US hedge fund Verition chooses Dubai for Mena office

Connecticut-based alternative investment manager Verition is to set up an office in the Dubai International Finance Centre (DIFC) as it eyes international expansion.

The firm, which has more than US$7.3 billion of assets under management and 400 employees, cited the low tax environment as one of the reasons for selecting Dubai.

Verition co-founder and president Josh Goldstein also referenced the “excellent infrastructure” and “friendly timezone for traders with a global investment mandate”.

The news comes weeks after Dubai launched a charm offensive to attract international hedge funds to the emirate.

The DIFC issued a report titled ‘Dubai: The next global hedge fund centre – opportunities and outlook’, which itself came on the back of a 54% increase in the number of hedge funds hosted by the DIFC in 2022.

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