Dubai & London, 22 January 2025: We are excited to announce the launch of Capricorn ICC Ltd., offering asset managers streamlined access to the UAE market via our Capricorn ICC Ltd DIFC Fund platform.

How It Works

Taking a similar structure to umbrella funds, the platform consists of a core DIFC entity, the Incorporated Cell Company (ICC), and multiple Incorporated Cells (ICs) – each a legally separate fund, ensuring clear segregation of assets and liabilities.

Key features

  • Regulated Management – Capricorn Fund Managers (DIFC) Limited (CFMD) acts as the regulated fund manager for the ICs, handling fund setup, governance, regulatory filings, and fund passporting in the UAE.
  • Cost Efficiency – The platform offers flexibility in structuring ICs while reducing costs through scale and marketing efforts.
  • Regulatory Umbrella – CFMD can provide regulatory services, including onboarding sponsors and facilitating secondment arrangements to manage ICs.
  • Market Access – Funds may be passported from DIFC to onshore UAE and/ or ADGM, subject to regulatory approval, with marketing strategies tailored case by case.
  • Agreed structure – Supported by fund administrators, custodians, auditors and legal advisors
  • Multiple Strategies – The platform accommodates various investment strategies, enabling asset managers to customise their approach within each IC.

Opportunities

The flexibility of this framework, regulatory support, and cost advantages make this a straightforward solution for asset managers looking to establish a strong presence in the UAE.

Do get in touch to discuss the platform and opportunities in the region.

Contact:

Craig Roberts, SEO Dubai

[email protected]

Jonty Campion, Executive Director

[email protected]

This month, we examine the past month’s alternative news and our guest writers look back at the past year and ahead at 2025.

December delivered mixed results for hedge fund performance, with macro strategies emerging as the clear leaders. Key developments included Antin closing its latest fund at €10.2 billion, the largest infrastructure raise of the year, Carlyle securing $7.1 billion for its Opportunities Fund, Apollo preparing its largest-ever fund, and Blackstone advancing its latest life sciences initiative. Private equity firms have increasingly turned their focus to the NFL, recognising the value of its brands and cultural significance. The month was marked by strategic deals, consolidations, new fund launches, and partnerships, indicating that 2025 is set to continue this momentum and more.

January features

  • Marex’s Chris Elliott examines the increasingly competitive hedge fund landscape, emphasising the importance of agility and responsiveness.
  • AIMA’s Drew Nicol identifies 2025 as a transformative year for regulation, marked by significant shifts and opportunities.
  • DIFC’s Salmaan Jaffery highlights Dubai and the DIFC’s commitment to establishing itself as a leading destination for alternative managers.
  • PwC’s Christine Cairns focuses on family offices balancing growth and sustainability.
  • Bitwise’s Vin Molino vividly addresses the challenges of managing a crypto bullfight in 2025.
  • H Squared’s Max Heppleston predicts that hiring in 2025 will hinge on differentiation

In Letter from America, Prosek’s Mark Kollar outlines five key trends for 2025. Despite fundraising challenges, innovation drives growth, with investments in data centres, energy transition infrastructure, and sovereign wealth funds leading the way. The democratisation of private markets through wealth management and expanding institutional interest in sports, including collegiate teams, signal a dynamic year ahead for investors.

This month, RQC covers key regulatory developments, including UK updates on operational and third-party reporting, a new Consumer Composite Investments consultation, and the FCA’s crypto regulation discussion paper. In the US, the SEC charged an RIA with policy failures, multiple entities for late Form D filings, and a Federal court ordered a defendant to pay over $2 million in penalties for commodity pool fraud.