Monday, July 15, 2024

TCI opens Abu Dhabi office in major Mid-East move

Photo: Yehya Eldaly – Unsplash

TCI Fund Management has opened a new office in Abu Dhabi to be headed by its global head of investor relations.

Christopher Hohn’s $60bn firm, which specialises in activist equity investments but also has a substantial real estate division, currently has offices in London and New York.

Its decision to open a third location in Abu Dhabi shows the progress made by the U.A.E hub in attracting the hedge fund elite. TCI follows Brevan Howard, which opened an office with space for 100 staff, to Abu Dhabi, while Dubai has proven more popular among multi-strat firms.

Bronwyn Owen, global head of investor relations and director of TCI Fund Management (AD) Limited has relocated to Abu Dhabi from New York to lead the office.

TCI said it plans to leverage the Abu Dhabi “office and in-person presence in building key regional relationships. A physical location in the region provides TCI access to valuable markets in terms of talent and capital as it continues to expand its capabilities and expertise.”

It also provides TCI with “a foothold in the region that can be leveraged to continue its efforts catalyzing climate action within the private finance sector,” the firm said in a statement.

“The Middle East is a vital market for the investment management industry, both from a talent and asset growth perspective, as well as a critical partner in global efforts to reduce carbon emissions and climate change,” said Hohn, who founded TCI in 2003.

“We look forward to establishing our team there to reach a broader investor base and to expand my philanthropic activities.”

Hohn also hopes that TCI’s presence in the region will enable him to raise the profile of the work his charity CIFF and other philanthropies are doing in the areas of climate action, health and nutrition.

He will be speaking at Abu Dhabi Finance Week on 27 November.