Marshall Wace plans to open an office in Abu Dhabi in the coming months, according to people familiar with the matter, in what would be the latest hedge fund manager to establish a presence in the United Arab Emirates.
The move is designed to help the group be closer to the Middle Eastern investor base — an important source of capital — and to be able to better compete for talent, the people said.
The Gulf states are marketing themselves as financial centres with attractive regulatory and tax regimes as well as a growing pool of talent from which to hire.
Marshall Wace, which manages about $65bn in assets, would follow hedge funds including Chris Hohn’s TCI and macro fund Brevan Howard in opening an office in Abu Dhabi. Brevan Howard now runs more money from Abu Dhabi than it does from either London or New York.
Marshall Wace declined to comment.
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