Latest news with #HarrisonStreet
Arab News
a day ago
- Business
- Arab News
Abu Dhabi expects more rapid growth for its financial center
LONDON: The rush of financial firms setting up in Abu Dhabi to tap the emirate's wealth funds and Middle East markets will continue at pace, the official in charge of expanding its financial hub has predicted. Abu Dhabi, which holds 90 percent of the UAE's oil reserves, has accelerated efforts to diversify its economy, leaning on its vast sovereign funds that together manage almost $2 trillion of capital. Abu Dhabi Global Markets still lags Dubai, but the number of firms registered in the center rose by 32 percent last year, and the amount of assets managed by firms there grew 245 percent, as the likes of BlackRock, Morgan Stanley, AXA, PGIM and hedge fund Marshall Wace all set up or registered funds there. Earlier on Tuesday, Harrison Street, a US firm focused on alternative real estate assets with about $56 billion in assets under management, said it was opening an office in Abu Dhabi. The center reported last week that new operating licenses increased 67 percent in the first quarter of this year, taking the total number of firms there past 2,380. 'We still have very strong growth,' ADGM's Chief Market Development Officer, Arvind Ramamurthy said, noting that the pipeline of new firms looked strong for the rest of the year, but refrained from giving a forecast for asset growth. 'Will it be 245 percent again this year? I wish. Let's see,' he said in an interview late on Monday. Firms from Japan, India, and China are also setting up in growing numbers, including asset managers and financial institutions, as well as crypto and artificial intelligence firms, Ramamurthy said, providing no further details. With cryptocurrency regulations in place since 2018, Abu Dhabi has become a major center for such investment, with sector heavyweights such as Circle and Coinbase represented there, while Abu Dhabi-backed investment group MGX has recently invested $2 billion worth of crypto tokens — issued by US President Donald Trump's World Liberty Financial venture — in the world's biggest crypto exchange, Binance.
Al Etihad
a day ago
- Business
- Al Etihad
Global investment management firm Harrison Street opens office at ADGM
11 June 2025 09:47 A. SREENIVASA REDDY (ABU DHABI)Harrison Street, a leading global investment management firm specialising in alternative real assets, has formally expanded into the Middle East with the launch of a new office at the Abu Dhabi Global Market (ADGM).The firm has secured a Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) of ADGM, enabling it to provide regulated services from its Abu Dhabi base. Headquartered in Chicago and London, Harrison Street also maintains offices across North America, Europe and Asia.'This strategic initiative aims to bolster Harrison Street's ability to advise and collaborate with investors in the Middle East,' the company said in a statement. 'This comes at a time when regional investors increasingly seek economic diversification and a broader range of international investment opportunities, including global real assets exposure.'The new office will be led by Hadi Nasser, who joined Harrison Street in March 2024 as Managing Director and Head of Investor Relations – Middle East. Nasser, who has nearly two decades of experience in capital raising and advisory roles across Europe and the Middle East, previously held roles at Rockpoint and EnTrust Global. He will be responsible for developing and maintaining Harrison Street's institutional relationships across the Gulf region.'We are excited to now formalise our presence in the Middle East, and specifically within ADGM, an increasingly important hub for the global investment management industry,' said Christopher Merrill, Co-Founder, Chairman and CEO of Harrison Street. 'This strategic expansion aligns with the Middle East's advanced investment landscape and its appetite for diversified, alternative sectors.'Arvind Ramamurthy, Chief Market Development Officer of ADGM, welcomed the development: 'Harrison Street brings valuable expertise and innovation to our thriving financial centre. Their presence further strengthens ADGM's position as a leading hub for asset and wealth management.'Founded in 2005, Harrison Street has invested over $71 billion across key sectors including senior housing, student housing, build-to-rent, healthcare delivery, life sciences, storage real estate, and digital infrastructure. The firm's strategy is supported by long-standing partnerships with more than 60 operating partners, 200 universities, and 30 top health his 2024 annual letter to investors, Merrill described the past year as a 'year of transition,' highlighting the firm's repositioning in response to macroeconomic volatility. During 2024, Harrison Street committed $5 billion to new investments and sold $4 billion worth of assets across 81 properties, including off-market transactions in student and senior housing, data centres, and medical offices. He also emphasised the firm's increasing adoption of AI and data analytics in its investment approach, and maintained a strong long-term outlook for alternative real assets. Harrison Street's new office, located at Al Sila Tower in ADGM, will serve as a regional base to guide institutional clients through a period marked by repricing and a recovering flow of capital into global real estate and infrastructure markets.
Zawya
a day ago
- Business
- Zawya
Abu Dhabi expects more rapid growth for its financial centre
LONDON - The rush of financial firms setting up in Abu Dhabi to tap the oil-rich emirate's wealth funds and Middle East markets will continue at pace, the official in charge of expanding its financial hub has predicted. Abu Dhabi, which holds 90% of UAE's oil reserves, has accelerated efforts to diversify its economy, leaning on its vast sovereign funds that together manage almost $2 trillion of capital. Abu Dhabi Global Markets still lags Dubai, but the number of firms registered in the centre rose by 32% last year, and the amount of assets managed by firms there grew 245%, as the likes of BlackRock, Morgan Stanley, AXA, PGIM and hedge fund Marshall Wace all set up or registered funds there. Earlier on Tuesday, Harrison Street, a U.S. firm focused on alternative real estate assets with about $56 billion in assets under management, said it was opening an office in Abu Dhabi. The centre reported last week that new operating licences increased 67% in the first quarter of this year taking the total number of firms there past 2,380. "We still have very strong growth," ADGM's Chief Market Development Officer, Arvind Ramamurthy said, noting that the pipeline of new firms looked strong for the rest of the year, but refrained from giving a forecast for assets growth. "Will it be 245% again this year? I wish. Let's see," he said in an interview late on Monday. Firms from Japan, India and China are also setting up in growing numbers - asset managers and financial institutions but also crypto and artificial intelligence firms, Ramamurthy said providing any details. With cryptocurrency regulations in place since 2018, Abu Dhabi has become a major centre for such investment, with sector heavyweights such as Circle and Coinbase represented there, while Abu Dhabi-backed investment group MGX has recently invested $2 billion worth of crypto tokens - issued by U.S. President Donald Trump's World Liberty Financial venture - in the world's biggest crypto exchange, Binance. (Additional reporting by Federico Maccioni in Dubai and Elizabeth Howcroft in Paris Editing by Tomasz Janowski)
Al Arabiya
2 days ago
- Business
- Al Arabiya
Abu Dhabi expects more rapid growth for its financial center
The rush of financial firms setting up in Abu Dhabi to tap the oil-rich emirate's wealth funds and Middle East markets will continue at pace, the official in charge of expanding its financial hub has predicted. Abu Dhabi, which holds 90 percent of UAE's oil reserves, has accelerated efforts to diversify its economy, leaning on its vast sovereign funds that together manage almost $2 trillion of capital. Abu Dhabi Global Markets still lags Dubai, but the number of firms registered in the center rose by 32 percent last year, and the amount of assets managed by firms there grew 245 percent, as the likes of BlackRock, Morgan Stanley, AXA, PGIM and hedge fund Marshall Wace all set up or registered funds there. Earlier on Tuesday, Harrison Street, a US firm focused on alternative real estate assets with about $56 billion in assets under management, said it was opening an office in Abu Dhabi. The center reported last week that new operating licenses increased 67 percent in the first quarter of this year taking the total number of firms there past 2,380. 'We still have very strong growth,' ADGM's Chief Market Development Officer, Arvind Ramamurthy said, noting that the pipeline of new firms looked strong for the rest of the year, but refrained from giving a forecast for assets growth. 'Will it be 245 percent again this year? I wish. Let's see,' he said in an interview late on Monday. Firms from Japan, India and China are also setting up in growing numbers - asset managers and financial institutions but also crypto and artificial intelligence firms, Ramamurthy said providing any details. With cryptocurrency regulations in place since 2018, Abu Dhabi has become a major center for such investment, with sector heavyweights such as Circle and Coinbase represented there, while Abu Dhabi-backed investment group MGX has recently invested $2 billion worth of crypto tokens - issued by US President Donald Trump's World Liberty Financial venture - in the world's biggest crypto exchange, Binance.
Reuters
2 days ago
- Business
- Reuters
Abu Dhabi expects more rapid growth for its financial centre
LONDON, June 10 (Reuters) - The rush of financial firms setting up in Abu Dhabi to tap the oil-rich emirate's wealth funds and Middle East markets will continue at pace, the official in charge of expanding its financial hub has predicted. Abu Dhabi, which holds 90% of UAE's oil reserves, has accelerated efforts to diversify its economy, leaning on its vast sovereign funds that together manage almost $2 trillion of capital. Abu Dhabi Global Markets still lags Dubai, but the number of firms registered in the centre rose by 32% last year, and the amount of assets managed by firms there grew 245%, as the likes of BlackRock, Morgan Stanley, AXA, PGIM and hedge fund Marshall Wace all set up or registered funds there. Earlier on Tuesday, Harrison Street, a U.S. firm focused on alternative real estate assets with about $56 billion in assets under management, said it was opening an office in Abu Dhabi. The centre reported last week that new operating licences increased 67% in the first quarter of this year taking the total number of firms there past 2,380. "We still have very strong growth," ADGM's Chief Market Development Officer, Arvind Ramamurthy said, noting that the pipeline of new firms looked strong for the rest of the year, but refrained from giving a forecast for assets growth. "Will it be 245% again this year? I wish. Let's see," he said in an interview late on Monday. Firms from Japan, India and China are also setting up in growing numbers - asset managers and financial institutions but also crypto and artificial intelligence firms, Ramamurthy said providing any details. With cryptocurrency regulations in place since 2018, Abu Dhabi has become a major centre for such investment, with sector heavyweights such as Circle and Coinbase represented there, while Abu Dhabi-backed investment group MGX has recently invested $2 billion worth of crypto tokens - issued by U.S. President Donald Trump's World Liberty Financial venture - in the world's biggest crypto exchange, Binance.
