Newera’s Abu Dhabi-based hedge fund secures USD 500 mn investment: Omar Newera, a former portfolio manager at Waha Capital, has secured a USD 500 mn investment from Schonfeld Strategic Advisors for his new long-short equity hedge fund based in Abu Dhabi, Bloomberg reports, citing sources familiar with the matter.

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The fund, expected to launch in late 2025 or early 2026, will trade exclusively for Schonfeld during an initial period. The New York-based hedge fund retains the option to increase its allocation over time.

This marks the first external manager investment for Schonfeld’s Emerging Markets and Delta One Strategy, launched in 2023. Led by Riccardo Riboldi from Dubai, the strategy is backed by a team of over 10 professionals, specializing in approaches like basis trading, long-short equity, and volatility.

UAE homegrown hedge fund startups remain a rare sight; however Newera’s launch—alongside Magellan Capital’s planned USD 700 mn multi-strategy vehicle —could signal a shift.

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