Brevan Howard Joins Hedge Fund Shift With 100-Person #UAE Outpost - Bloomberg

Brevan Howard Joins Hedge Fund Shift With 100-Person UAE Outpost - Bloomberg

Brevan Howard Asset Management is opening an outpost in Abu Dhabi, joining a string of peers expanding in the Middle East region that’s fast becoming a major hub for hedge funds.

The Jersey, Channel Islands-based investment firm, best known for macro trading and a recent push into digital assets, plans to have about 100 people in the region, according to people with knowledge of the matter. Some of the staff will be supporting Brevan Howard’s digital currency fund, the people said, asking not to be identified because the details are private.

A spokesman for the firm declined to comment.

The move follows efforts by Abu Dhabi, whose sovereign wealth funds oversee more than $1.2 trillion, to draw in more foreign money and financial firms. A growing number of hedge fund traders also want to be based there, attracted in part by its lack of income tax.