Among other details, the firm's ADGM licence covers asset managers handling investment funds, discretionary portfolios, or acting as fund managers.

Hillhouse, ADGM
Hillhouse Investment Management, a private alternative asset manager house, has opened a new office in the Abu Dhabi Global Market. 

The firm has also obtained a Category 3C licence from the Financial Services Regulatory Authority (FSRA), it said in a statement.

The licence covers asset managers handling collective investment funds, discretionary portfolios, or acting as fund managers. 

Hillhouse said it has already established a presence across businesses in the UAE through investments including Virtuzone and Clara via its business services platform Ascentium, as well as Hartland International School and North London Collegiate School in the education real estate space via its real assets investment arm Rava Partners. 

“As one of the world’s largest private alternative asset managers, their decision to establish a regional presence in ADGM reflects Abu Dhabi’s stature as one of the top global financial centres and reinforces its position as a stable and trusted destination for global businesses,” HE Ahmed Jasim Al Zaabi, chairman of ADGM, said.

“Hillhouse has built strong partnerships with investors, businesses, and government entities across the region for a number of years. This new office will help us continue strengthening those ties and commitments further,” Adam Hornung, co-chief operating officer at Hillhouse Investment, said. “We have strong confidence in Abu Dhabi as one of the world’s most important financial and investment hubs, and we are excited to welcome new local colleagues and advisors in the region who will support our platform to expand regionally across the UAE and the wider GCC.”