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3rd Party: 28 Nov 2023
GQG Partners (GQG), an independent asset management firm with more than US$100 billion in AUM, today announced the formation of GQG Partners Limited, which has received an in principle approval (IPA) from the Financial Services Regulatory Authority (FRSA) of Abu Dhabi Global Market (ADGM).
This IPA signifies the establishment of an office in Abu Dhabi, marking a pivotal move for GQG as it steps towards establishing its first investment hub outside of the US. This significant milestone sets the stage for GQG Partners Ltd to further solidify GQG’s global footprint and enhance its position in key markets, including the Middle East.
The new office recognises the importance of Abu Dhabi and the Middle East as significant regions for capital markets and the global asset management industry. GQG aims to extend its services across the region upon receiving final regulatory approval from the FSRA
“ADGM is committed to building a centre of excellence in asset management. We believe this will become a significant component of the global financial ecosystem and we take pride in being early movers as one of the first long-only investment managers to develop a meaningful presence there,” said Mark Barker, Managing Director and Head of International at GQG Partners.
“In our view, excellence in asset management is achieved through proximity to investors and investment opportunities as well as attracting the best available talent from around the world. We believe our office in Abu Dhabi will significantly enhance our ability to attract that talent,” Mr. Barker continued.
Commenting on GQG Partners receiving its IPA, Arvind Ramamurthy, Chief of Market Development at ADGM said, “We are delighted to welcome GQG Partners to ADGM’s ecosystem. We are confident that ADGM’s dynamic ecosystem and progressive regulations will fortify GQG Partners' vision, supporting them in adding value to the asset management sector, 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 GQG Partners' expertise in contributing to the growth and development of the financial markets in Abu Dhabi and beyond.”
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