AXA IM Alts, the $200bn (£157.8bn) alternative investments arm of the French asset manager, has opened its first office in the Middle East.
The new office in Abu Dhabi Global Market (ADGM) – Abu Dhabi’s international financial sector – will be primarily focused on capital raising across the firm’s private and alternative assets range.
The firm has appointed Ammar Bukhamsin as, and promoted François Boissin to, co-head of the Mena Client Group Alts.
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Bukhamsin will also serve as the senior executive officer of AXA IM Middle East.
They will both report directly to Florence Dard, global head of Client Group at AXA IM Alts.
Bukhamsin previously spent over eight years at Natixis, including three years as the firm’s chief executive for Saudi Arabia. Prior to that, he held senior sales roles at Goldman Sachs, UBS and Citi.
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Boissin has spent the past nine years working at AXA, including two years in capital raising at AXA IM Alts for the past two years.
The company said that the new office would help it to bring its capabilities in real estate, alternative credit, infrastructure, natural capital and impact investing closer to institutional investors in the region and enhances its client servicing by having a dedicated local presence.
“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.
“This move marks a natural progression for our business in the region and paves the way for further successful partnerships with local investors to meet their rapidly evolving investment requirements, across AXA IM Alts’ expertise.”
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Arvind Ramamurthy, chief of market development at ADGM said: “We congratulate and welcome AXA IM Alts on its recent expansion with a dedicated presence within ADGM, Abu Dhabi’s international financial centre. Abu Dhabi, also known as the ‘Capital of Capital,’ has become a premier destination due to its sophisticated regulatory regimes and abundant investment opportunities. As an anchored asset management firm, we look forward to the various expertise and innovative capabilities that AXA IM Alts will bring to ADGM’s vibrant ecosystem and to the region.”