Hedge Fund Sculptor Joins Rush of Financial Firms in Abu Dhabi - Bloomberg
Sculptor Capital Management received regulatory approval to operate in Abu Dhabi, joining a wave of financial firms that have recently set up in the oil-rich emirate.
Adrian Colberg, the hedge fund firm’s executive managing director and global co-head of the client partner group, is one of three directors listed for the unit in ADGM, according to the financial hub’s records. He recently relocated to the United Arab Emirates, and is currently based in Dubai.
Sculptor, which manages about $34 billion in assets, also maintains a representative office in the Dubai International Financial Centre, according to a March filing with the US Securities and Exchange Commission.
Representatives for Sculptor didn’t immediately respond to requests for comments outside of normal working hours.
The firm has a history in the region, having been involved in the restructuring of NMC Healthcare in 2020.
Abu Dhabi — home to three major sovereign wealth funds overseeing nearly $1.7 trillion in assets — is competing with Dubai and Riyadh to position itself as the Middle East’s main business hub. It has recently attracted financial heavyweights including BlackRock Inc. and Seviora, the $54 billion asset management arm of Temasek Holdings Pte.
In the broader Middle East, countries like Kuwait and Qatar too have also stepped up efforts to attract foreign firms.
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