In a move that will shake up the financial industry in the Middle East, Gulf Capital has received a full asset management licence from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM). This announcement has been met with great excitement as it signifies that Gulf Capital can now manage assets and funds, as well as perform other regulated asset management activities in or from the Abu Dhabi Global Market. Here’s what you need to know about this significant development.
What is Gulf Capital?
Gulf Capital is a private equity firm that was launched in Abu Dhabi in 2006. Over the years, the company has expanded and now has offices in Abu Dhabi, Dubai, Riyadh, Cairo, and Singapore. Gulf Capital has a long track record of investing private capital to build global leaders out of the GCC and is now well positioned to capture the phenomenal growth across the West-East Asia corridor. With $2.4 billion in assets under management (AuMs) and 38 closed investments, Gulf Capital has established itself as a market leader in private equity in the Middle East.
What is the Abu Dhabi Global Market (ADGM)?
The Abu Dhabi Global Market (ADGM) is a leading international financial centre that was established in 2013. Located in the heart of Abu Dhabi, ADGM is a free zone that offers a range of financial services, including banking, asset management, and capital markets. The establishment of ADGM was part of the Abu Dhabi Economic Vision 2030, which aims to diversify the economy away from its reliance on oil and gas.
What is the Financial Services Regulatory Authority (FSRA)?
The Financial Services Regulatory Authority (FSRA) is the regulator of ADGM’s financial services sector. Its mandate is to ensure that financial institutions operating in ADGM meet the highest standards of integrity and professionalism. The FSRA is responsible for licensing and supervising financial institutions, enforcing rules and regulations, and resolving disputes between financial institutions and their clients.
What does the full asset management licence mean for Gulf Capital?
The full asset management licence from FSRA will allow Gulf Capital to manage assets and funds as well as perform other regulated asset management activities in or from the Abu Dhabi Global Market. This means that Gulf Capital can now offer a broader range of services to its clients, including investment management and advisory services. The licence also demonstrates Gulf Capital’s commitment to upholding the highest standards in its asset management operations, which are reflected in the international best practices that ADGM has embedded in its standards and regulations.
What does this mean for the financial industry in the Middle East?
The granting of a full asset management licence to Gulf Capital is a significant development for the financial industry in the Middle East. It signals that the region is continuing to evolve and mature as a financial centre, and that regulators are committed to ensuring that the highest standards of integrity and professionalism are maintained. The licence also demonstrates that there is a growing demand for more regulated and transparent asset management activities within the region. This is good news for investors, as it means that they can have more confidence in the financial institutions operating in the region.
What does this mean for Gulf Capital’s clients?
For Gulf Capital’s clients, the full asset management licence means that they can now access a broader range of services from the company. This includes investment management and advisory services, which will help Gulf Capital to better meet the evolving needs of its clients. The licence also demonstrates Gulf Capital’s commitment to upholding the highest standards in its asset management operations, which will provide clients with greater confidence in the company’s ability to manage their investments.
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