French alternative investment firm comes to GCC with office in ADGM

Tikehau Capital has received permission from ADGM’s Financial Services Regulatory Authority

The Abu Dhabi Global Market is an international financial centre and free zone on Al Maryah Island. Victor Besa / The National

Tikehau Capital, a France-based alternative asset management company, has set up its office in the UAE – its first in the GCC – as it seeks to expand its presence in the region.

The Paris-based company, which manages €39.7 billion ($43.1 billion) in assets, is expanding its global footprint with an office in The Abu Dhabi Global Market, it said in a statement on Thursday.

The company has secured financial services permission from ADGM’s Financial Services Regulatory Authority.

"This strategic move strengthens our presence in the UAE and sets the foundation for further regional growth,” said Antoine Flamarion and Mathieu Chabran, co-founders of Tikehau Capital. "Our commitment to building long-term relationships, fostering collaboration and contributing to Abu Dhabi's ecosystem sets us apart."

Tikehau Capital said it intends to serve the UAE’s ecosystem of leading financial institutions, sovereign wealth funds, corporates and entrepreneurs, drawing on its expertise, resources and global network across its various asset classes (private debt, real assets, private equity and capital markets strategies).

The company also aims to build strategic partnerships with local actors and leverage its investment expertise in the “decarbonisation of our economies and strategic sectors such as food security and cyber security, among others, in order to actively contribute to the development of Abu Dhabi’s ecosystem”, it said.

The global alternatives industry is growing, with assets under management expected to nearly double to $23.21 trillion by 2026, from an estimated $13.32 trillion at the end of 2021, a report by investment data company Preqin says.

Abu Dhabi is seeking to diversify non-oil sectors – as part of wider plans to reduce the economy's reliance on oil – with a focus on growing strategic industries including tourism, manufacturing, advanced technology and logistics.

The ADGM, which opened in 2015 and is part of Abu Dhabi's efforts to diversify its economy, aims to connect the emirate with international markets in the Middle East, Africa, South and East Asian economies.

Last year, the financial centre grew its assets under management by 56 per cent, with total active licences up by 30 per cent annually to 5,546, including permits for both financial services and non-financial companies.

The UAE has been seeking to attract more businesses and has announced several new measures, including the expansion of the 10-year Golden Visa programme and free-trade agreements with various countries to boost foreign investment.

The country has also introduced the NextGenFDI initiative, which offers incentives to attract digital companies to set up in the country.

In 2022, the ADGM authorities also carried out several initiatives to support businesses.

Tikehau Capital’s new office in ADGM is intended to strengthen its “existing relationships with key local players and is in line with the group’s announcement in February 2021 of Hassan Karimi’s appointment as a senior adviser in the region”, the company said.

“We are confident that Tikehau Capital’s unique approach and commitment to delivering excellence will drive unprecedented growth and collaboration within ADGM, as well as Abu Dhabi and the wider region,” said Arvind Ramamurthy, chief of market development at the ADGM.