US investment management firm Polen Capital announced on Monday that it has received preliminary approval for a licence to operate from ADGM, the financial centre of Abu Dhabi, as part of its strategy to tap into growth opportunities in the region.
The rising number of company registrations, the attractiveness of sovereign wealth funds, and the relative ease of acquiring a licence compared to other financial centres have made ADGM an increasingly appealing destination for global firms.
Polen Capital, which managed approximately $63bn in assets as of 30 September, will join a growing number of global asset managers and hedge funds establishing operations in ADGM.
“Opening an office in Abu Dhabi would be a significant milestone for Polen as we expand our presence in the Middle East market,” said Polen Capital CEO Stan Moss in a statement.
“We look forward to receiving the Financial Services Permit from the FSRA (Financial Services Regulatory Authority) and continuing our commitment to providing exceptional service in the region.”
The statement did not include details regarding the company’s current assets under management or investments in the Middle East.
