Latest news with #PrimroseCapital
Zawya
a day ago
- Business
- Zawya
Singapore asset manager Primrose gets Abu Dhabi ADGM approval
Singapore-based asset manager Primrose Capital Management has received an in-principle approval from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi's financial market ADGM as it expands access to the $500 billion family office market in the Middle East. Primrose will seek to secure its full license in the coming months. The firm plans to recruit portfolio-engineering and client-coverage specialists in Abu Dhabi, and expects to launch MENA-domiciled feeder funds in the second half of 2025. Abu Dhabi has become a magnet for global asset managers, including the New York-based BlackRock, PGIM and the Chicago-based investment firm Nuveen, drawn by its status as the 'capital of capital'. The financial market was home to 134 asset and fund managers overseeing 166 funds at the end of last year. AUMs surged 245% in 2024, according to ADGM (Writing by Brinda Darasha; editing by Daniel Luiz)
Gulf Business
a day ago
- Business
- Gulf Business
Primrose Capital secures key ADGM regulatory nod, eyes MENA expansion
Image: ADGM/ For illustrative purposes Primrose Capital Management ( The approval marks the first milestone in Primrose's application for a full financial services permission (FSP). Primrose seeks to deepen the investment corridor between Singapore and Abu Dhabi at a time when the two jurisdictions are stepping up cooperation on fintech and capital-markets development. Primrose plans to service family offices, sovereign entities and institutional investors By applying for the FSP and establishing a regulated presence in ADGM, Primrose plans to offer family offices, sovereign entities and institutional investors in the Middle East direct access to its machine-learning-powered strategies, bridging two rapidly expanding pools of capital. Family offices in the Gulf now steward more than $500bn in assets and are increasingly allocating to systematic hedge-fund strategies, a demand Primrose is positioned to meet with transparent, risk-managed products across global futures, options and digital-asset derivatives. Linus Ong, CIO at Primrose Capital Management, said: 'Regulated market access is non-negotiable for today's sophisticated investors. 'Receiving the IPA is an important vote of confidence in our model and our team.' Primrose will work closely with the FSRA to secure its full license in the coming months. Primrose plans to recruit portfolio-engineering and client-coverage specialists in Abu Dhabi, creating high-skilled jobs within the emirate's innovation cluster. It expects to launch MENA-domiciled feeder funds in the second half of 2025, giving Gulf investors seamless access to its flagship Global Multi-Strategy and Digital Options programmes.
