Hillhouse Investment Management has opened a new office in Abu Dhabi as asset managers deepen their expansion into the Middle East despite the ongoing conflict in the region.
The global alternative asset manager said the new office will be located in the Abu Dhabi Global Market (ADGM), the emirate’s international financial centre.
Hillhouse said the office reflects its long-term commitment to the region and will support both investment activity and client partnerships across the UAE and the wider Gulf region.
The announcement comes as conflict in the Middle East has escalated overnight, with the US intensifying tensions as President Donald Trump threatened to hit Iran ‘extremely hard’ over the next two to three weeks.
“We have strong confidence in Abu Dhabi as one of the world’s most important financial and investment hubs, and we are excited to welcome new local colleagues and advisors in the region who will support our platform to expand regionally across the UAE and the wider GCC,” said Adam Hornung, co-chief operating officer at Hillhouse Investment.
Prior to the conflict, many private credit managers had been moving into the region, establishing offices and benefiting from rising investment flows. One asset manager told Alternative Credit Investor last week that the continued conflict in the Middle East would likely affect expansion plans in the region.
However, the move by Hillhouse follows Muzinich & Co, which also opened an office in Abu Dhabi this week, countering that sentiment. DWS recently reaffirmed its commitment to the region as well, appointing a senior coverage specialist for alternatives in the Middle East as it looks to expand its private markets platform there.
Read more: Private credit could feel ripple effects as conflict grips Middle East
Hillhouse stated that it has already made significant investments in the region, including in companies Virtuzone and Clara through its business services platform Ascentium.
The new office has also obtained a Category 3C licence from the emirate’s Financial Services Regulatory Authority, the firm said.
“We are pleased to welcome Hillhouse to ADGM,” said Ahmed Jasim Al Zaabi, chairman of ADGM. “As one of the world’s largest private alternative asset managers, their decision to establish a regional presence in ADGM reflects Abu Dhabi’s stature as one of the top global financial centres and reinforces its position as a stable and trusted destination for global businesses.”
