French investment firm AXA IM Alts expands global footprint with ADGM office

French investment firm AXA IM Alts has expanded its global footprint with an office in the Abu Dhabi Global Market (ADGM), the latest step in the company’s ongoing international expansion.

The new office in Abu Dhabi, the first in the Middle East, will primarily focus on capital raising across AXA IM Alts’ private and alternative assets range while enhancing client servicing through a dedicated local presence in the Middle East.

“The opening of our new office in Abu Dhabi marks a significant milestone in our expansion strategy and underscores the strategic importance of the Middle East in our international growth plans,” said Isabelle Scemama, global head of AXA IM Alts.

Scemama said the move marks a natural progression for AXA IM Alts in the Middle East and paves the way for further partnerships with local investors to meet their rapidly evolving investment requirements.

Ammar Bukhamsin has been appointed to lead the local office and co-head MENA Client Group alongside AXA alum François Boissin, who will be based in Paris. Bukhamsin, who previously held roles at Goldman Sachs, UBS, and Citi, will also serve as the senior executive officer of AXA IM Middle East.

AXA IM Alts, which has $200bn (EUR184bn) assets under management, secured a financial services licence from ADGM’s Financial Services Regulatory Authority to establish a category four license firm.

With the opening of AXA IM Alts’ 16th global office, the investment firm brings its extensive expertise in real estate, alternative credit, infrastructure, natural capital and impact investing closer to institutional investors in the region.

The Middle East is home to a sophisticated investor base, including sovereign wealth funds, pension funds and global banks, demanding best-in-class and diversifying investment solutions.

AXA IM Alts joins a growing number of investment management firms flocking to the GCC, close to some of the world’s biggest sovereign wealth funds, pension funds and global banks clamouring for diverse investment solutions.

The ADGM’s assets under management soared by a record 211 per cent in Q1 2024 as the financial hub continues to attract global investment firms and hedge funds.

The latest data shows that a total of 107 asset managers, comprising investment firms and hedge funds, who manage 137 funds set up shop in Abu Dhabi in the first three months of this year.

Read: ADGM says assets under management soar by 211% in Q1 2024