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US giant Sculptor Capital Management has become the latest Power List manager to open up in Abu Dhabi.
The $34bn firm has received regulatory approval to operate in Abu Dhabi, reported Bloomberg. The firm also has a representative office in Dubai, which is now home to satellite offices of at least 75 hedge funds.
Its new office will be the sixth started in the emirate by a global firm running at least $10bn in hedge fund assets. Sculptor will join TCI, Marshall Wace, Brevan Howard, Winton and JP Morgan.
Dubai, home to offices of 17 members of the AFI Power List, has been ahead of Abu Dhabi in attracting hedge funds, with the large multi-manager platforms gravitating to the DIFC.
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