Oak Hills Advisors to set up shop in DIFC + Edge, Safran team up again

Another major investor plants its flag in DIFC: US-headquartered alternative investment firm Oak Hill Advisors (OHA) received regulatory approval from the Dubai Financial Services Authority to set up an office in the Dubai International Financial Center (DIFC), according to a press release.

OHA? The firm manages a broad range of credit strategies spanning private credit, leveraged loans, high-yield bonds, distressed debt, collateralized loan obligations, and multi-strategy credit investments. At the end of 1Q, its AUM stood at USD 112 bn.

Edge, Safran partner on missile development

State defense firm Edge Group is doubling down on its cooperation with French firms, inking a new agreement with aerospace and defense group Safran to set up two JVs for weapon development, Edge said in a statement. The joint ventures — one to be based in the UAE and the other in France — will focus on precision-guided and air-to-ground weapons and launch systems for unmanned aerial systems.

ICYMI- Edge has recently established its European HQ in Paris, and France was also reportedly looking to the UAE for help with the next iteration of its Rafale fighter jet. More broadly, the UAE is currently pushing to localize more of its defense stack while also upping its exposure to assets abroad to strengthen its defense supply chain.