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    Centricus receives in-Principle Approval to open an office in the Abu Dhabi Global Market

    ADGM FSRA 22/11/2023

    Disclaimer: This is an external communication and is not an official statement or announcement from ADGM.

    Centricus, the London-based global investment and advisory firm overseeing over $40bn in assets, today announced that it received In-Principle Approval (IPA) on September 25, 2023, from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) of an application to conduct Regulated Activities under prudential Category 4. Pending final regulatory approval Centricus will open an office in the ADGM, the international financial centre of the United Arab Emirates’ (UAE) capital.

    Centricus has a successful history of close engagement with regional capital providers, seeking to leverage its broad network to introduce pipeline and investment opportunities to them. It is a core part of Centricus’s growth strategy to enhance this level of engagement, recognising the importance of Abu Dhabi as the Capital of Capital and a pivotal destination for global deal flow. Centricus believes that establishing a presence on the ground in ADGM will accelerate its aim to drive inbound investment into the region, providing access to the increasing set of international standard investment opportunities in the UAE.

    Drawing on local expertise and leveraging Abu Dhabi’s growing talent pool, Centricus is excited and pleased that Markus Thomas will join the firm and serve as Senior Executive Officer and oversee Centricus’s ADGM business and operations. Prior to this Markus helped build several key institutions in Abu Dhabi’s ecosystem, including the Abu Dhabi Investment Office and the Abu Dhabi IPO Fund. Prior to serving the Government of Abu Dhabi in various roles, Markus worked in investment banking in Abu Dhabi, London and Zurich, having started his career in Credit Suisse’s Investment Bank.

    “We feel it is imperative to be in the ADGM’s growing financial ecosystem and are delighted to have received In-Principle Approval from the FSRA, its well-regarded regulator. Abu Dhabi is the ‘Capital of Capital’ and we are very excited to add this strategic growth pillar to our global platform. We are confident that the licence, once granted, will strengthen our global presence, and we are excited to be able to contribute to ADGM’s position as a centre for international deal making and asset management.” said Garth Ritchie, Centricus Partner and Head of Capital Markets.

    Centricus Partner and CEO of Centricus Asset Management Josh Purvis said: “We are excited to be opening an office in the ADGM. This approval represents a significant milestone in our journey, and we look forward to leveraging the global opportunities presented by the UAE's respected and vibrant financial landscape and its strong regulatory framework.”

    Arvind Ramamurthy, Chief of Market Development at ADGM said, “We look forward to Centricus joining ADGM’s ecosystem. We are confident that ADGM’s dynamic ecosystem and progressive regulations will fortify Centricus’ vision, supporting them in adding value to the region’s private equity and asset management landscape, and contributing to the continuous development of Abu Dhabi's vibrant financial landscape and its strategic value to global finance. We look forward to witnessing the positive impact of Centricus’ expertise in contributing to the growth and development of the financial ecosystem in Abu Dhabi and beyond.”