The rise of Dubai
This month the Alternative Investor looks at recent fund news and a particular focus on Dubai, which has seen spectacular growth as a home for alternatives over the past few years.
August was turbulent for hedge funds, with equity-focused managers closing the month in positive territory while systematic and directional macro struggled. Two Sigma solved its succession conundrum, while other managers proved acquisitive as they build AUM. Ackman pulled the plug on his IPO plans and Elliott alumni spread their wings. Apollo and Carlyle appear to be on a roll, while private equity as a whole sits on mountains of dry powder. Millennium is the #1 investor in crypto, and Brevan and BlueCrest launched new arms. Plus more…
- Salmaan Jaffery, DIFC’s Chief Business Development Officer, answers how Dubai has become the Middle East, Africa and S. Asia’s #1 destination for hedge funds.
- Nick Smith, Co-Founder and MD of Highbrook Capital Consultant, examines the DIFC’s evolution over the past 15 years.
- Ogier’s Richard Bennett, Dominic Athwal, and Ridhiima Kapoordiscuss Dubai’s growth to become a “regional home” for managers.
- Craig Roberts, SEO, Capricorn Fund Managers (DIFC) Limited, turns to UAE infrastructure and initiatives that have enabled this extraordinary growth.
- Oscar Orellana-Hyder, Co-Founder of Cordell Partners, discusses the popularity of the UAE from a talent perspective and how managers are “bulking up.”
- Markus Susilo, Partner, and Narasimha Das, Associate Partner, Crowe UAE, close this section with a look at how to establish a business in the UAE and the importance of having the right legal structure.
In Letter from America, Prosek’s Mark Kollar shifts the focus away from Dubai to write about the NFL—a true US institution—and how private equity can now own stakes. The valuations are staggering, with the franchises the largest in professional sports, but the options are limited.
