Dubai International Financial Centre (DIFC) today (July 11) announced it is the first financial centre in the region to enter into an agreement with the Alternative Investment Management Association (AIMA), the alternative investment industry’s pre-eminent voice globally, representing over 2,100 corporate members with over $2.5 trillion hedge fund and/or private credit assets.

 

The agreement further solidifies AIMA’s long-standing commitment to the region and DIFC’s ever-growing role as an international hub for alternative investments and hedge funds, said the financial entity.

 

Five new hedge funds in DIFC, with a range of investment strategies, will relocate senior employees to Dubai who will undertake portfolio management and investor relation activities from the Centre.

 

New joiners include Hudson Bay Capital, Asia Research and Capital Management, King Street Capital, Balyasny Asset Management and Verition Fund Management, it stated.

 

Demonstrating broader growth across alternative investment classes, new private equity firms establishing regional offices in DIFC in Q2 include TPG Global, Rockpoint and CVC Capital Partners demonstrating the Centre’s strength as a thriving environment for international firms in the alternative investments sector.

 

Reaffirming Dubai’s position as a preferred destination for alternative investments and global hedge funds, CEO Arif Amiri said: "DIFC is delighted to be the first financial centre in the Region to partner with AIMA. Innovation and cross-border collaboration attracts capital flows and opportunities in growth markets for high-performing hedge funds with a range of investment strategies."

 

"This agreement marks yet another pivotal moment for Dubai and DIFC as we continue to attract world-class talent, whilst driving the future of finance by providing a robust and hyper-connected ecosystem for the alternative investment industry that enables them to manage their global portfolios efficiently," he noted.

 

CEO Jack Inglis said: "The past year has seen many reports of alternative investment managers, including some of the industry’s largest names, opening offices in the UAE. AIMA has enjoyed member representation in the region for over 15 years and has closely watched its growth as an important global financial hub, not just for alternative investments but also the wider asset management industry."

 

"In signing this MOU, we are pleased to partner with a recognised industry leader in the DIFC to further assist our members in Dubai and support the maturation of the alternative asset management sector in this vibrant location," he added.-TradeArabia News Service