Home UAE Dubai DIFC launches new funds centre, reports rise in firms The centre has launched a first-of-its-kind DIFC Funds Centre to support hedge fund spinouts, fund platforms as well as boutique wealth and asset management firms by Gulf Business September 10, 2024 IMage: DIFC/ Dubai Media Office Dubai International Financial Centre (DIFC) has said it now hosts more than 400 wealth and asset management firms, including 44 hedge funds in the “billion-dollar club”. The centre also revealed plans to launch the DIFC Funds Centre in early 2025. It aims to support hedge fund spinouts, fund platforms, and boutique firms, offering industry professionals a flexible environment and networking opportunities. The initiative reflects the centre’s strategy to deepen sector engagement and build a robust wealth and asset management ecosystem. “DIFC’s wealth and asset management community continues to experience rapid growth, outpacing the market and strengthening our position as the region’s preferred financial centre,” said Salmaan Jaffery, chief business development officer at DIFC Authority. DIFC sees a rise in firms to over 400 The centre has seen a significant increase in firms, growing from 350 companies in 2023 to over 400 this year. Hedge funds are a major driver of this growth, with 60 operating within the centre, including names such as Bluecrest, Eisler Capital and Tudor Capital. A recent report by LSEG highlights emerging markets, led by the UAE, as key drivers of the next wave of wealth and asset management growth, with the financial centre positioned as the region’s leading hub. The UAE saw a 9 per cent growth in assets under management (AUM) in 2023, the highest among global booking centres. The report also notes Dubai’s role in attracting significant wealth inflows, particularly from high-net-worth individuals, family offices, and sovereign wealth funds. The DIFC Funds Centre is part of a broader strategy that includes partnerships with the Alternative Investment Management Association (AIMA), Deal Catalyst, and the Standards Board for Alternative Investments (SBAI). Dubai continues to be a prime destination for both public and private capital, with access to regional sovereign wealth funds and $3.5tn in private capital pools. Read: DIFC breaks ground on new real estate development Tags DIFC funds centre wealth and asset management funds You might also like US private credit firm Golub Capital to set up base in Abu Dhabi DIFC unveils decarbonisation strategy with ‘net zero by 2045’ goal Aldar acquires Dhs2.3bn commercial tower in DIFC Telecoms group VEON to move HQ to Dubai after Amsterdam delisting
