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Abu Dhabi’s Rapidly Changing Investment Landscape Debated at the Second Edition of “Asset Abu Dhabi” Hosted at ADFW 2023
ADGM: 28 November 2023
- Ray Dalio took the stage at Asset Abu Dhabi and praised the Falcon Economies of the GCC region as ‘Renaissance States’.
- Ahead of COP28, during the special session of ‘The rise of the falcon economy’, notable economic leaders like Dr. Nasser Saidi called for the establishment of a ‘climate bank’.
- Fadi Ghandour, Executive Chairman of Wamda Capital emphasised increasing regional capital deployment by SWFs into major infrastructure and tech projects to further accelerate the growth of the falcon economies in the MENA.
Abu Dhabi Finance Week (ADFW) progressed into its next key conference today, conducting the 2023 edition of Asset Abu Dhabi. This pillar conference hosted a selective group of investment market leadership, who gathered in an event at ADFW to analyse the evolving investment strategies of hedge funds, private equity houses, venture capital giants and family offices across the global markets, explore returns from evolving asset classes and investment frontiers, responses to inflationary pressures, and observe on the future and prospects of regional and global economies amid the current transition era.
The 2023 edition of Asset Abu Dhabi organised with theme partners, Mubadala and BTG Pactual, showcased a line-up of some of the strongest global private market leaders, hosting thousands of senior investors from 100+ countries, from the investment and financial industry who collectively manage more than USD 30 trillion of assets. The list of top financial investment institutions that attended the conference included top names such as Morgan Stanley, BNY Mellon, Goldman Sachs, Brevan Howard and Franklin Templeton amongst others.
Asset Abu Dhabi started with a special opening session led by Ruchir Sharma, the Chairman of Rockefeller International, who presented his analysis of key political, economic, technological and social signals that shape a nation's future. Diving into the principle of wealth management, Jenny Johnson the President and CEO of Franklin Templeton spoke insightfully on the utility of technology to rising asset classes, sustainable investing, and interpreting changing global markets.
The rise of the Falcon Economy remains a major focus of Asset Abu Dhabi and ADFW to explore the drivers of the ongoing growth of the UAE and other regional economies and shed light on government plans, policies and efforts to realize long-term economic visions. Moreover, Asset Abu Dhabi thoroughly debated the theme of ADFW 2023 - 'Investing in the Transition Era', by discussing how technological, monetary, and energy transitions are setting the tone for a different economic order.
Other key sessions at Asset Abu Dhabi also included a unique conversation on ‘The Keys to Managing Money & Risk’ between George Osborne the former UK Chancellor and Alan Howard the founder of Brevan Howard, and a special roundtable focused on ‘Forecast to 2030’ with the Chairman of Hong Kong Exchanges & Clearing and C-suites of Goldman Sachs, Circle and Tikehau Capital.
Salem Mohammed Al Darei, CEO of ADGM Authority said, "With ADGM as a home to a global collection of asset managers, Abu Dhabi Finance Week continues to be a pivotal platform for them through Asset Abu Dhabi to share insights and chart the course for the ever-evolving world of investment. The 2023 edition of Asset Abu Dhabi not only offers a unique opportunity to analyse the rapidly shifting investment landscape but also showcases the next era of digital assets and provides invaluable guidance on the prospects of regional and global economies within the transition era. With a stellar lineup of global private market leaders and senior investors representing a staggering USD 30 trillion in assets under management, Asset Abu Dhabi exemplifies ADGM's commitment to fostering collaboration and innovation in the financial industry.”
A major announcement during Asset Abu Dhabi revealed the launch of Numou, an SME financing platform developed by ADGM and financing partners RAKBANK, Commercial Bank International, Al Maryah Community Bank, CredibleX, and Khalifa Fund. The platform has been built to simplify the process of loan application and credit assessment and will support seamless financing for SMEs.
Renowned companies in the asset management space such as HYCAP Group and M2 also announced milestones for their presence within ADGM and the region. HYCAP Group, a UK-based net zero asset management company with clean hydrogen at its core, announced opening an office in ADGM to support its strategic expansion to the region. M2 on the other hand, declared being recognised as a fully-regulated Multilateral Trading Facility (MTF) and Custodian by the Financial Services Regulatory Authority (FSRA) of ADGM which will enable them to on-board UAE residents and institutional clients to the M2 platform.
Abu Dhabi has become a destination of choice for global asset and fund management entities as the numbers have been growing drastically in the past few years. ADGM is also experiencing remarkable growth in the asset management sector with global names established in the international financial centre reflecting 52% growth in the assets under management (AUM) in Q3, compared to the same period last year.
In parallel to the key topics and strategic conversations explored during the Asset Abu Dhabi panel discussion, the conference hosted two other special events. The International Family Office Congress 2023 was organised in partnership with the Abu Dhabi Chamber, Abu Dhabi IPO Fund and Emirates Family Office Association, in addition to the Turnaround, Restructuring & Insolvency (T.R.I.) Forum 2023.
The International Family Office Congress highlighted the value proposition of Abu Dhabi being a financial powerhouse and a world-class cosmopolitan city that offers a great place to live for people of diverse cultures and backgrounds, making it an ideal destination for family businesses. The congress shed light on the prospects, outlook, and challenges of the global family office industry, which is estimated for a value of circa USD 500 billion. The attendees of this event enjoyed a fireside chat with one of the Arab world's most powerful and influential business figures, Emirati business figure Mishal Kanoo the chairman of Kanoo Group, who shared with the audience his journey of growing the group from a basic trading and shipping enterprise to a modern diversified industrial conglomerate. Renowned names such as the Duke of Roxburghe – Captain Charles Robert George Innes-Ker, Christian Angermayer and Paul Desmarais III were also part of various sessions during the Congress.
The T.R.I. Forum 2023, explored a series of topics, covering the global debt outlook, the future of distressed assets, factors and approaches to investing in different jurisdictions and opportunities, and the growing flow of capital from the West to the East. The forum discussed the challenges and opportunities that lie ahead for restructuring professionals amid uncertain economic tides and evolving regulatory frameworks.