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ADGM Continues Unprecedented Growth in the Asset Management Sector, Announces Record-Setting Q3 PerformanceADGM 16/11/2023
- Assets under management grew by 52% while operational entities increased by 35%, and the workforce experienced a 26% increase at the end of Q3 2023 compared to the same period last year.
- Prominent global and regional companies added to ADGM’s ecosystem in Q3 include Sagard, Tikehau Capital, FTI Consulting and M2 among others.
Abu Dhabi Global Market (ADGM), the International Financial Centre (IFC) of the UAE’s capital, has echoed its continuing strong performance with record-setting numbers reported in the third quarter (Q3) of 2023, demonstrating unprecedented growth across various aspects especially the asset management sector as it enters the final quarter on a high note.
Significant Growth in Q3 2023 versus Q3 2022:
- Assets under management in the IFC grew by 52% in Q3 2023 versus Q3 2022.
- Operational Entities within ADGM increased by 35%, with the total number rising from 1,272 in Q3 2022 to 1,717 entities in Q3 2023
- The number of prominent institutions at ADGM continues to grow, with additional global and regional names establishing offices in ADGM including, but not limited to, Sagard – a global multi-strategy alternative asset management ﬁrm with more than USD 14.5 Billion assets under management, Tikehau Capital, FTI Consulting and M2.
- ADGM Square’s workforce increased by 26%, showcasing an increase in talented individuals choosing Abu Dhabi as their destination to live, work and thrive.
Commenting on ADGM’s continued strong growth, H.E. Ahmed Jasim Al Zaabi, Chairman of ADGM said, “Our exceptional performance across the last three quarters reflects the effectiveness, and success of our transformational efforts, firmly establishing ADGM as the region's fastest-growing International Financial Centre. We will continue in our efforts to accelerate our momentum and further entrench ADGM's role as a key contributor to Abu Dhabi's economic vision and its ambitious economic diversification objectives.”
ADGM’s Growth Strategy 2023-2027 and its alignment to Abu Dhabi’s diversification goals, keeping the financial sector at the core of its strategies, has enabled it to become a catalyst that is accelerating Abu Dhabi’s overall economic development.