New Office

US Investment House GQG Targets Middle East

Amanda Cheesley Deputy Editor December 1, 2023

US Investment House GQG Targets Middle East

Joining other investment firms in expanding their presence in the Middle East,GQG Partners has announced the establishment of a new investment hub in the Abu Dhabi Global Market. 

GQG Partners (GQG) has just released plans to establish a formal presence in Abu Dhabi, after it received an in-principle approval (IPA) from the Financial Services Regulatory Authority (FRSA) of Abu Dhabi Global Market (ADGM). 

This IPA signifies the establishment of an office in Abu Dhabi, marking a key move for GQG as it steps toward establishing its first investment hub outside of the US, the firm said in a statement. This milestone sets the stage for GQG Partners to entrench its global footprint and enhance its position in key markets, including the Middle East.  

The new office recognizes the importance of Abu Dhabi and the Middle East as significant regions for capital markets and the global asset management industry. GQG said it aims to extend its services across the region upon receiving final regulatory approval from the FSRA. 

“ADGM is committed to building a center of excellence in asset management. We believe this will become a significant component of the global financial ecosystem and we take pride in being early movers as one of the first long-only investment managers to develop a meaningful presence there,” said Mark Barker, managing director and head of international at GQG Partners. 

“In our view, excellence in asset management is achieved through proximity to investors and investment opportunities as well as attracting the best available talent from around the world. We believe our office in Abu Dhabi will significantly enhance our ability to attract that talent,” he added. 

A number of investment managers have been expanding their presence in the Middle East recently. For instance, IQ-EQ, the investor services group that set up in Dubai’s International Financial Centre (DIFC) earlier this year, announced that it is establishing operations in Abu Dhabi. Swiss private bank Julius Baer has also set up a local external asset management (EAM) desk to serve clients in the Dubai International Financial Centre (DIFC).

“The UAE is a strategic growth market for Julius Baer along with the wider Middle East region. The wealth management industry in the UAE is thriving given the influx of UHNWIs and HNWIs and we believe this influx will continue as Dubai continues to position itself as one of the fastest, safest, and most connected cities in the world,” Alireza Valizadeh, CEO, Julius Baer (Middle East), said. See more here and here.

“We are delighted to welcome GQG Partners to ADGM’s ecosystem. We are confident that ADGM’s dynamic ecosystem and progressive regulations will fortify GQG Partners' vision, supporting them in adding value to the asset management sector, and contributing to the continuous development of Abu Dhabi's vibrant financial landscape and its strategic value to global finance,” Arvind Ramamurthy, chief of market development at ADGM, said. 

Fort Lauderdale, Florida-based, GQG Partners, which has more than $100 billion in assets under management, is committed to delivering long-only equity strategies for its clients.

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