{"id":112575,"date":"2026-02-02T00:00:00","date_gmt":"2026-02-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/2026\/02\/02\/magellan-capital-scales-up-multi-strategy-fund-to-usd-975-mn\/"},"modified":"2026-02-02T00:00:00","modified_gmt":"2026-02-02T00:00:00","slug":"magellan-capital-scales-up-multi-strategy-fund-to-usd-975-mn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2026\/02\/02\/magellan-capital-scales-up-multi-strategy-fund-to-usd-975-mn\/","title":{"rendered":"Magellan Capital scales up multi-strategy fund to USD 975 mn"},"content":{"rendered":"

Dubai<\/strong>-based investment management and<\/strong> advisory firm Magellan Capital <\/strong>has<\/a><\/strong>launched<\/a><\/strong> a <\/strong>USD 975 mn multi-strategy hedge fund<\/strong>, marking a scale-up from its USD 700 mn soft launch in 2024. Ahmed Omar (LinkedIn<\/a>), CEO and CIO of Magellan Capital, will lead the fund.<\/p>\n

BACKGROUND-<\/strong> Magellan Capital first outlined plans in 2024<\/a> for a USD 700 mn multi-strategy hedge fund, which Bloomberg said at the time would rank among the UAE\u2019s largest hedge fund debuts. Preqin data showed that fewer than 5% of hedge funds globally raised more than USD 500 mn that year.<\/p>\n

Who\u2019s involved? <\/strong>The vehicle is fully anchored by in-house capital from Magellan\u2019s ultimate beneficial owner. We previously reported<\/a> that the fund\u2019s seed capital came from the family fortune of Magellan owner Hassan El Ali, whose family founded and sold Zakher Marine International to Adnoc Logistics & Services for USD 1.1 bn two years ago. The fund is open to institutional investors, family offices, and high-net-worth individuals.<\/p>\n

Fund details: <\/strong>The Magellan Absolute Return fund marks the first time the firm is bringing on third-party capital, and will tap into emerging market credit, long-short investing, and long-only equities. The original plan was also to capitalize on arbitrage prospects between producers and suppliers, former Magellan Capital portfolio manager Britney Lam said at the time.<\/p>\n

Remember: The firm has courted some controversy <\/p>\n

The same Britney Lam who left Magellan in October 2024 went on to file complaints<\/a> with the DFSA and UK Financial Conduct Authority (FCA), alleging that Omar concealed losses and blocked staff from raising risk concerns. At the time, the firm said it wasn\u2019t holding or managing client assets, hadn\u2019t been contacted by regulators, and was not currently being regulated by the FCA.<\/p>\n","protected":false},"excerpt":{"rendered":"

The fund marks a scale-up from its USD 700 mn soft launch in August 2024<\/p>\n","protected":false},"author":1,"featured_media":112576,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1557],"tags":[7,1342,25],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-112575","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-enterpriseam-uae","tag-investment","tag-investment-watch","wpautop","entry"],"acf":{"mongo_id":"77d896a4-b0a2-4b14-8592-174e911091ff","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2026\/2\/84.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Magellan Capital scales up multi-strategy fund to USD 975 mn","related_issue":[112561],"teaser":"The fund marks a scale-up from its USD 700 mn soft launch in August 2024"},"yoast_head":"\nMagellan Capital scales up multi-strategy fund to USD 975 mn - 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