Hong Kong fund managers set up shop in Middle East finance centres to seize opportunities, talent
- Infini Capital Management and Arte Capital have both set up offices in Abu Dhabi – and US$1 billion funds focused on Middle East opportunities
- Access to talent, low taxes and visa schemes are draws, in addition to investment and fundraising opportunities, participants say
Hong Kong-based fund managers are expanding to the Middle East to take advantage of new investment and fundraising opportunities, as well as the region’s talent pool, amid increased global headwinds and US-China geopolitical tensions.
As the relationship between China and the Middle East deepens, fund managers in Hong Kong have a unique role in connecting the two regions, according to industry participants. They are increasingly seeing the value of setting up a base of operations in Middle East financial centres.
In a survey conducted by the Hong Kong Investment Funds Association in November and December, more than 50 per cent of fund managers see opportunities in Dubai (57 per cent), Saudi Arabia (57 per cent) and Abu Dhabi (52 per cent).
Last month, Hong Kong-based hedge fund Infini Capital Management opened an Abu Dhabi office after receiving in-principle approval from Abu Dhabi’s Financial Services Regulatory Authority (FSRA) to establish a presence there, according to the company. This would set the stage for it to become the first Asian hedge fund manager in the Abu Dhabi Global Market, an international financial centre and free zone, it said.
“There is obviously a lot of coverage about deepening investments between Greater China and the Middle East, and we are watching these closely to leverage our expertise in both markets,” said Tony Chin, Infini Capital’s founder, CEO and chief investment officer.