(UAE Economy -Abu Dhabi)
A $100 Billion Investment Firm Opens an Office in Abu Dhabi
Hill House Investment Management, a global investment management firm, announced on Thursday that it has opened a new office in Abu Dhabi's financial center, becoming the second international firm to enter the Abu Dhabi market since the outbreak of the Iran-Iraq War.
The conflict, which began on February 28 when the United States and Israel launched coordinated strikes against Iran, has disrupted travel and business in the region as Tehran has launched attacks and terrorist operations against Gulf states, forcing several companies to temporarily close their offices.
The UAE has become increasingly attractive to high-net-worth individuals and businesses in recent years, bolstered by its tax breaks and ease of doing business.
Hill House, which manages assets exceeding $100 billion, is known for its investments in hedge funds and private equity, and has also entered the real estate and private credit sectors.
The Singapore-based firm was among the first investors in Chinese tech giants such as Tencent Holdings, JD.com Inc., and Baidu. Abu Dhabi, which holds 90 percent of the UAE’s oil reserves, has intensified its efforts to reduce its reliance on hydrocarbons by leveraging its vast sovereign wealth funds.
Its financial center, Abu Dhabi Global Market (ADGM), saw a 36 percent increase in assets under management last year, while the total number of active licenses in the center rose 30 percent to 12,671 by the end of December.
ADGM
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