All three investments involve commitments to a physical presence in the UAE capital and under the jurisdiction of Abu Dhabi Global Market
Abu Dhabi Catalyst Partners on Wednesday announced its initial three investments as it seeks to provide firms with an operational base in the UAE capital.
All three investments involve meaningful commitments to a physical presence in the UAE’s capital and under the jurisdiction of Abu Dhabi Global Market (ADGM), the company said in a statement.
The investments - announced in conjunction with the SALT Abu Dhabi conference - include a partnership with Avenue Capital Group, the New York-based global investment firm managing assets of more than $10 billion across markets in the United States, Europe and Asia.
Abu Dhabi Catalyst Partners said it has committed $100 million to a new global private credit strategy that will be run by Avenue Capital Group from ADGM.
Guy Hurley, CEO of Abu Dhabi Catalyst Partners, said: “The ability of ADGM to attract an investment firm with the heritage and pedigree of Avenue Capital Group is a testament to the work undertaken over the last six years to build a best-in-class financial hub. It should also encourage other asset managers to set up in ADGM.”
Abu Dhabi Catalyst Partners also announced a partnership with Sirius Aviation Capital to invest in mid-life, single-aisle aircraft, which are currently on lease to airlines around the globe.
Through a joint venture between both companies, Abu Dhabi Catalyst Partners has committed $100 million to a new company, Sirius Aircraft Investments, which will be based in ADGM.
Hurley, added: “The world’s aircraft fleet is expected to more than double over 20 years from 22,680 in 2019 to 47,680 aircraft by 2038, so we see this as an excellent time to capitalise on the growing aviation market.”
Abu Dhabi Catalyst Partners has also invested $25 million with Freedom Asset Management, an existing ADGM-based wealth management company looking to expand its product range. Abu Dhabi Catalyst Partners said it will help fund Freedom Asset Management for growth capital.