Partners Group, a Switzerland-based private market investment company with $150 billion in assets under management, is expanding its presence in the Middle East with the opening of a new regional headquarters in Abu Dhabi financial centre ADGM.
The push to broaden its regional footprint is part of the company’s strategy to tie up with institutional investors to capitalise on opportunities within the technology-led transformation of industries, “often with a nexus to the region”, it said in a statement on Tuesday.
The move is about breaking bread with investors, being close and enabling a deeper partnership to invest globally, Partners Group's regional managing director told The National.
"We cut out the noise," Suhail Albaz said. "We try and make our decisions based on our strategic priorities. We appreciate that there are people that you know, are trying to come over here and have short-term goals, but that's not us."
Steffen Meister, executive chairman of the board, said Abu Dhabi is "increasingly becoming a centre of gravity for global advancements in technology, energy, next-generation manufacturing and digital services".
“It is attracting increasing amounts of capital, drawn to the regional investment opportunities and the chance to partner with Abu Dhabi’s cutting-edge investors on global transactions," he added.
Expansion to the UAE capital has increased the number of global offices operated by the company to 22. Partners Group joins a growing list of asset managers, insurers, financial institutions and investment houses that have chosen to set up a base in the financial hub and use it as a platform for their regional expansion.
Last week, Harrison Street, a $56 billion US-based real estate and infrastructure investment manager, said it is entering the Middle East market with the opening of an office at ADGM, after it received a financial services licence from ADGM's regulator, the Financial Services Regulatory Authority.
In February, German asset manager Patrizia was granted approval by the FSRA to start operations at ADGM. The Augsburg-based company, which has about €55 billion ($57.7 billion) in assets under management, plans to arrange and advise real estate investments for clients in the region.
The two real estate managers add to a stream of companies that are eager to tap into the Middle East's growing investment market. New York-based BlackRock, the world's top asset manager with nearly $11.5 trillion in assets under management, in November received a commercial licence to operate at ADGM.
In September, ADGM welcomed its first trillion-dollar asset managers – PGIM, the global asset management business of the New York Stock Exchange-listed Prudential Financial, and Chicago investment firm Nuveen, with both aiming to expand their operations and client bases in the Middle East.
The flurry of new additions has pushed the number of companies in ADGM higher during the first quarter of this year, with assets under management also increasing by 33 per cent annually, the financial hub said this month.
The total number of entities operating at ADGM rose by 43 per cent annually to 2,781 in the first three months of this year, it said in a statement. At the end of last year, the financial zone had 2,381 operational entities.
Partners Group has maintained a presence in the Middle East since the opening of its Dubai office in 2010. The firm’s investment mandate span private equity, private credit, infrastructure and real estate among other asset classes.
Education and health care have been the leading investment themes, said Mr Albaz, given they have natural demand drivers around them, making them an easier entry point into the Middle East.
Its current regional portfolio of companies employ more than 2,000 people and many are expanding their footprint. International School Partnerships, founded by Partners Group in 2013, has recently acquired its 10th school in the Middle East, it said.
Partners Group is actively assessing investment opportunities in renewables and luxury retail sector companies with solid fundamentals, targeting $1 billion to $1.2 billion equity investment. Mr Albaz said.
“The Middle East is a key growth area for Partners Group and we plan to significantly develop our business in the GCC and across the broader region,” said Mr Albaz, who also leads the Abu Dhabi office.
"Not only are we focused on deepening our network of regional clients and business partners, but we are also actively pursuing the growing opportunities for transformational investing offered to our portfolio of businesses and assets by establishing themselves in the Middle East.”
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
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UAE currency: the story behind the money in your pockets
Student Of The Year 2
Director: Punit Malhotra
Stars: Tiger Shroff, Tara Sutaria, Ananya Pandey, Aditya Seal
1.5 stars
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
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Expert input
If you had all the money in the world, what’s the one sneaker you would buy or create?
“There are a few shoes that have ‘grail’ status for me. But the one I have always wanted is the Nike x Patta x Parra Air Max 1 - Cherrywood. To get a pair in my size brand new is would cost me between Dh8,000 and Dh 10,000.” Jack Brett
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THE BIO
Favourite author - Paulo Coelho
Favourite holiday destination - Cuba
New York Times or Jordan Times? NYT is a school and JT was my practice field
Role model - My Grandfather
Dream interviewee - Che Guevara
UK-EU trade at a glance
EU fishing vessels guaranteed access to UK waters for 12 years
Co-operation on security initiatives and procurement of defence products
Youth experience scheme to work, study or volunteer in UK and EU countries
Smoother border management with use of e-gates
Cutting red tape on import and export of food
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Financial considerations before buying a property
Buyers should try to pay as much in cash as possible for a property, limiting the mortgage value to as little as they can afford. This means they not only pay less in interest but their monthly costs are also reduced. Ideally, the monthly mortgage payment should not exceed 20 per cent of the purchaser’s total household income, says Carol Glynn, founder of Conscious Finance Coaching.
“If it’s a rental property, plan for the property to have periods when it does not have a tenant. Ensure you have enough cash set aside to pay the mortgage and other costs during these periods, ideally at least six months,” she says.
Also, shop around for the best mortgage interest rate. Understand the terms and conditions, especially what happens after any introductory periods, Ms Glynn adds.
Using a good mortgage broker is worth the investment to obtain the best rate available for a buyer’s needs and circumstances. A good mortgage broker will help the buyer understand the terms and conditions of the mortgage and make the purchasing process efficient and easier.
Retirement funds heavily invested in equities at a risky time
Pension funds in growing economies in Asia, Latin America and the Middle East have a sharply higher percentage of assets parked in stocks, just at a time when trade tensions threaten to derail markets.
Retirement money managers in 14 geographies now allocate 40 per cent of their assets to equities, an 8 percentage-point climb over the past five years, according to a Mercer survey released last week that canvassed government, corporate and mandatory pension funds with almost $5 trillion in assets under management. That compares with about 25 per cent for pension funds in Europe.
The escalating trade spat between the US and China has heightened fears that stocks are ripe for a downturn. With tensions mounting and outcomes driven more by politics than economics, the S&P 500 Index will be on course for a “full-scale bear market” without Federal Reserve interest-rate cuts, Citigroup’s global macro strategy team said earlier this week.
The increased allocation to equities by growth-market pension funds has come at the expense of fixed-income investments, which declined 11 percentage points over the five years, according to the survey.
Hong Kong funds have the highest exposure to equities at 66 per cent, although that’s been relatively stable over the period. Japan’s equity allocation jumped 13 percentage points while South Korea’s increased 8 percentage points.
The money managers are also directing a higher portion of their funds to assets outside of their home countries. On average, foreign stocks now account for 49 per cent of respondents’ equity investments, 4 percentage points higher than five years ago, while foreign fixed-income exposure climbed 7 percentage points to 23 per cent. Funds in Japan, South Korea, Malaysia and Taiwan are among those seeking greater diversification in stocks and fixed income.
• Bloomberg
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
The specs
Engine: 1.5-litre 4-cyl turbo
Power: 194hp at 5,600rpm
Torque: 275Nm from 2,000-4,000rpm
Transmission: 6-speed auto
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UAE Falcons
Carly Lewis (captain), Emily Fensome, Kelly Loy, Isabel Affley, Jessica Cronin, Jemma Eley, Jenna Guy, Kate Lewis, Megan Polley, Charlie Preston, Becki Quigley and Sophie Siffre. Deb Jones and Lucia Sdao – coach and assistant coach.
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RESULTS
6pm: Mazrat Al Ruwayah – Group 2 (PA) $40,000 (Dirt) 1,600m
Winner: AF Alajaj, Tadhg O’Shea (jockey), Ernst Oertel (trainer)
6.35pm: Race of Future – Handicap (TB) $80,000 (Turf) 2,410m
Winner: Global Storm, William Buick, Charlie Appleby
7.10pm: UAE 2000 Guineas – Group 3 (TB) $150,000 (D) 1,600m
Winner: Azure Coast, Antonio Fresu, Pavel Vashchenko
7.45pm: Business Bay Challenge – Listed (TB) $100,000 (T) 1,400m
Winner: Storm Damage, Patrick Cosgrave, Saeed bin Suroor
20.20pm: Curlin Stakes – Listed (TB) $100,000 (D) 2,000m
Winner: Appreciated, Fernando Jara, Doug O’Neill
8.55pm: Singspiel Stakes – Group 2 (TB) $180,000 (T) 1,800m
Winner: Lord Glitters, Daniel Tudhope, David O'Meara
9.30pm: Al Shindagha Sprint – Group 3 (TB) $150,000 (D) 1,200m
Winner: Meraas, Antonio Fresu, Musabah Al Muhairi
The Equaliser 2
Director Antoine Fuqua
Starring: Denzel Washington, Bill Pullman, Melissa Leo, Ashton Sanders
Three stars
