Hong Kong-based alternatives firm Infini Capital Management has secured in-principle approval from the Abu Dhabi Global Markets (ADGM) to operate in the UAE.
Should Infinity receive full regulatory approval, it would make it the first firm to manage an Asian hedge fund within the ADGM.
Infini has also opened an office in the ADGM to support its plans.
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The new business will include portfolio management, trading, risk, compliance and investor relations within its operations.
“We believe in the tremendous potential of the region as an alternative investment hub and have received strong support and partnership from the ADGM in getting to this point,” said Tony Chin, CEO and CIO of Infini Capital.
“We welcome Infini Capital as the first Asian Hedge Fund Manager to establish its presence in ADGM, a significant milestone representing the strong commercial connections between Asia and the Middle East,” said Arvind Ramammurthy, chief of market development at ADGM.
“Their decision reflects the growing momentum of asset management firms to choose the capital city of the UAE as a hub for their international business operations,” he added.