DIFC launches new funds centre, reports rise in firms

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.

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