Tikehau Capital, a France-based alternative asset management company, has set up its office in the UAE – its first in the GCC – as it seeks to expand its presence in the region.
The Paris-based company, which manages €39.7 billion ($43.1 billion) in assets, is expanding its global footprint with an office in The Abu Dhabi Global Market, it said in a statement on Thursday.
The company has secured financial services permission from ADGM’s Financial Services Regulatory Authority.
"This strategic move strengthens our presence in the UAE and sets the foundation for further regional growth,” said Antoine Flamarion and Mathieu Chabran, co-founders of Tikehau Capital. "Our commitment to building long-term relationships, fostering collaboration and contributing to Abu Dhabi's ecosystem sets us apart."
Tikehau Capital said it intends to serve the UAE’s ecosystem of leading financial institutions, sovereign wealth funds, corporates and entrepreneurs, drawing on its expertise, resources and global network across its various asset classes (private debt, real assets, private equity and capital markets strategies).
The company also aims to build strategic partnerships with local actors and leverage its investment expertise in the “decarbonisation of our economies and strategic sectors such as food security and cyber security, among others, in order to actively contribute to the development of Abu Dhabi’s ecosystem”, it said.
The global alternatives industry is growing, with assets under management expected to nearly double to $23.21 trillion by 2026, from an estimated $13.32 trillion at the end of 2021, a report by investment data company Preqin says.
Abu Dhabi is seeking to diversify non-oil sectors – as part of wider plans to reduce the economy's reliance on oil – with a focus on growing strategic industries including tourism, manufacturing, advanced technology and logistics.
The ADGM, which opened in 2015 and is part of Abu Dhabi's efforts to diversify its economy, aims to connect the emirate with international markets in the Middle East, Africa, South and East Asian economies.
Last year, the financial centre grew its assets under management by 56 per cent, with total active licences up by 30 per cent annually to 5,546, including permits for both financial services and non-financial companies.
The UAE has been seeking to attract more businesses and has announced several new measures, including the expansion of the 10-year Golden Visa programme and free-trade agreements with various countries to boost foreign investment.
The country has also introduced the NextGenFDI initiative, which offers incentives to attract digital companies to set up in the country.
In 2022, the ADGM authorities also carried out several initiatives to support businesses.
Tikehau Capital’s new office in ADGM is intended to strengthen its “existing relationships with key local players and is in line with the group’s announcement in February 2021 of Hassan Karimi’s appointment as a senior adviser in the region”, the company said.
“We are confident that Tikehau Capital’s unique approach and commitment to delivering excellence will drive unprecedented growth and collaboration within ADGM, as well as Abu Dhabi and the wider region,” said Arvind Ramamurthy, chief of market development at the ADGM.
Company%20Profile
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Results:
CSIL 2-star 145cm One Round with Jump-Off
1. Alice Debany Clero (USA) on Amareusa S 38.83 seconds
2. Anikka Sande (NOR) For Cash 2 39.09
3. Georgia Tame (GBR) Cash Up 39.42
4. Nadia Taryam (UAE) Askaria 3 39.63
5. Miriam Schneider (GER) Fidelius G 47.74
Tomb%20Raider%20I%E2%80%93III%20Remastered
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In numbers: China in Dubai
The number of Chinese people living in Dubai: An estimated 200,000
Number of Chinese people in International City: Almost 50,000
Daily visitors to Dragon Mart in 2018/19: 120,000
Daily visitors to Dragon Mart in 2010: 20,000
Percentage increase in visitors in eight years: 500 per cent
Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
The specs
Engine: 3.8-litre twin-turbo V8
Power: 611bhp
Torque: 620Nm
Transmission: seven-speed automatic
Price: upon application
On sale: now
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
The advice provided in our columns does not constitute legal advice and is provided for information only. Readers are encouraged to seek independent legal advice.
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
THE%20STRANGERS'%20CASE
%3Cp%3E%3Cstrong%3EDirector%3C%2Fstrong%3E%3A%20Brandt%20Andersen%3Cbr%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3EOmar%20Sy%2C%20Jason%20Beghe%2C%20Angeliki%20Papoulia%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
The specs
Price, base / as tested Dh1,100,000 (est)
Engine 5.2-litre V10
Gearbox seven-speed dual clutch
Power 630bhp @ 8,000rpm
Torque 600Nm @ 6,500rpm
Fuel economy, combined 15.7L / 100km (est)
UAE currency: the story behind the money in your pockets
57%20Seconds
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TOURNAMENT INFO
Women’s World Twenty20 Qualifier
Jul 3- 14, in the Netherlands
The top two teams will qualify to play at the World T20 in the West Indies in November
UAE squad
Humaira Tasneem (captain), Chamani Seneviratne, Subha Srinivasan, Neha Sharma, Kavisha Kumari, Judit Cleetus, Chaya Mughal, Roopa Nagraj, Heena Hotchandani, Namita D’Souza, Ishani Senevirathne, Esha Oza, Nisha Ali, Udeni Kuruppuarachchi
Profile of Udrive
Date started: March 2016
Founder: Hasib Khan
Based: Dubai
Employees: 40
Amount raised (to date): $3.25m – $750,000 seed funding in 2017 and a Seed round of $2.5m last year. Raised $1.3m from Eureeca investors in January 2021 as part of a Series A round with a $5m target.
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
