Argentem Creek Partners, a New York-based credit specialist firm, will establish its regional headquarters at Abu Dhabi Global Market (ADGM) in partnership with the Abu Dhabi Investment Office (Adio).
The move will allow Argentem Creek, which has investments across private credit, high yield and trade finance, to tap into investment opportunities across the Middle East and North Africa and Asia, Adio said on Thursday.
Under the agreement, Adio will provide financial and non-financial incentives to support Argentem Creek’s regional hub.
The partnership is part of Adio's Dh2 billion ($545 million) Innovation Programme that supports companies in high-growth areas.
A range of sectors in the region, including manufacturing, logistics, trade finance and food security, will benefit from Argentem Creek's presence in Abu Dhabi, because they will have access to the company's emerging market and credit expertise, said Abdulla AlShamsi, acting director general of Adio.
"The partnership will also help to develop local talent and support the continued growth of Abu Dhabi’s financial services infrastructure with emerging markets knowledge and deal flow," he said.
"The partnership through Adio's Innovation Programme illustrates our continued commitment to accelerating innovation in high-growth areas that will create impactful progress in the UAE and the wider region.”
Abu Dhabi is seeking to attract global companies from across sectors to set up their operations in the emirate as it expands its economy.
Amazon, the world's biggest e-commerce marketplace, has partnered with Adio to build the Middle East's most technologically advanced warehouse in the emirate.
In May, supermodel-turned-businesswoman Tyra Banks, who headlined the inaugural session of the Adio-backed Access Granted talk series, also chose the emirate as the first international market for her premium ice cream brand, Smize Cream.
Adio also supports start-ups through programmes such as its GrowthX Accelerator, a partnership with Microsoft that aims to provide selected companies with access to the market and investors.
The partnership will also help to develop local talent and support the continued growth of Abu Dhabi’s financial services infrastructure with emerging markets knowledge and deal flow
Abdulla AlShamsi,
acting director general of the Abu Dhabi Investment Office
ADGM, Abu Dhabi's financial capital centre, has introduced several initiatives to boost its growth and attract more companies. This includes efforts to promote and regulate the use of blockchain, decentralised finance and other digital assets.
Argentem Creek is set to benefit from Abu Dhabi's access to global markets and talent, in addition to a favourable time zone that overlaps with key international markets, the statement said.
The company will also be able to tap into the growing local economy and gain access to some of the world’s largest sovereign wealth funds, said Daniel Chapman, chief executive and chief information officer of Argentem Creek.
"Moreover, ADGM’s strong framework for asset management companies and funds, fosters a business-friendly environment for industry practitioners while retaining appropriate levels of investor protection," he said.
“Our Abu Dhabi regional office [gives] greater proximity to clients, deal flow and investors in existing and future opportunities. Abu Dhabi offers the infrastructure, business opportunities and highly skilled local talent that will enhance our existing global relationships and investment expertise."
Argentem Creek, founded in 2015, has offices in Minneapolis, London and Buenos Aires.
Other workplace saving schemes
- The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
- Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
- National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
- In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
- Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
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- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
Evacuations to France hit by controversy
- Over 500 Gazans have been evacuated to France since November 2023
- Evacuations were paused after a student already in France posted anti-Semitic content and was subsequently expelled to Qatar
- The Foreign Ministry launched a review to determine how authorities failed to detect the posts before her entry
- Artists and researchers fall under a programme called Pause that began in 2017
- It has benefited more than 700 people from 44 countries, including Syria, Turkey, Iran, and Sudan
- Since the start of the Gaza war, it has also included 45 Gazan beneficiaries
- Unlike students, they are allowed to bring their families to France
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