ABU DHABI (Reuters) – U.S. funding administration agency Polen Capital mentioned on Monday it has acquired preliminary approval for a license to function from the ADGM, Abu Dhabi’s monetary centre, because it seems to capitalise on development alternatives within the area.
Rising firm registrations, the enchantment of sovereign wealth funds, and the relative ease of acquiring a license to function in contrast with different monetary centres have enhanced ADGM’s attractiveness for world companies.
Polen Capital, which had roughly $63 billion in property below administration as at Sept. 30, will be part of different world asset managers and hedge funds in organising within the ADGM.
The transfer is usually pushed by alternatives to deepen ties with the United Arab Emirates’ largest sovereign wealth funds and regional household places of work.
“Opening an office in Abu Dhabi would mark a significant milestone for Polen, as we begin to build a greater presence in the Middle East market,” Polen Capital CEO Stan Moss mentioned in an announcement.
“We look forward to receiving the Financial Services Permit from the FSRA (Financial Services Regulatory Authority) and continuing our commitment to delivering exceptional service in the region.”
No particulars of the corporate’s present property below administration or investments within the Center East area have been offered within the assertion.
