Switzerland’s Adapt IMI opens Abu Dhabi office + US-based Flow comes to Dubai

More Swiss asset managers land in the UAE

Swiss derivatives manager Adapt IM has opened an Abu Dhabi office, bringing the firm closer to Middle Eastern institutional investors, according to a statement. The new base is led by Daniel Mullarkey (LinkedIn), formerly a MENA equity and derivatives specialist at Bloomberg. Founders Alexis Maubourguet (LinkedIn) and Clément Mary-Dauphin (LinkedIn) are due in the UAE during the week of 14 September to formally inaugurate the office and meet regional investors and partners.

IN CONTEXT- Adapt isn’t the first Swiss asset manager to land in the UAE this year. Finreon opened a licensed DIFC representative office in April as it targets the region’s institutional capital base.

US real estate player expands to UAE

US-based real estate firm Flow — owned by WeWork co-founder Adam Neumann — is expanding into the UAE after securing a license from the Dubai International Financial Center (DIFC), the company said in a press release. Besides the US, Flow already has a footprint in Saudi Arabia. The company has an overall portfolio of USD 2.5 bn.

Its first communities are set to open in 1Q next year in Dubai and Abu Dhabi. The firm is backed by a USD 350 mn VC investment from US venture capital firm Andreessen Horowitz (a16z), and its business model centers around acquiring, developing, and managing residential units.