DIFC first in region to join forces with AIMA

Tuesday, 11 July 2023 19:22

By ARN News Staff

Dubai International Financial Centre (DIFC), the leading global financial hub in the Middle East, Africa and South Asia (MEASA) region, has announced it's the first financial centre in the region to enter into an agreement with the Alternative Investment Management Association (AIMA).

AIMA is the alternative investment industry’s pre-eminent voice globally, representing over 2,100 corporate members with over $2.5 trillion hedge fund and/or private credit assets.

The agreement further solidifies AIMA’s long-standing commitment to the region and DIFC’s ever-growing role as an international hub for alternative investments and hedge funds.

Arif Amiri, CEO of DIFC Authority, said, “DIFC is delighted to be the first financial centre in the region to partner with AIMA. Innovation and cross-border collaboration attracts capital flows and opportunities in growth markets for high-performing hedge funds with a range of investment strategies. This agreement marks yet another pivotal moment for Dubai and DIFC as we continue to attract world-class talent, whilst driving the future of finance by providing a robust and hyper-connected ecosystem for the alternative investment industry that enables them to manage their global portfolios efficiently.”

The news comes as DIFC continues to witness an unparalleled inflow of alternative investment firms and hedge funds.

Hedge funds establishing their regional presence in DIFC during the second quarter this year include Hudson Bay Capital, a multi-billion-dollar hedge fund operating in Greenwich, New York, Miami and London; Asia Research and Capital Management Ltd., the privately owned asset management firm founded in 2011 headquartered in Hong Kong; King Street Capital, a leading global alternative asset manager founded in 1995 with over $23 billion across an institutional platform spanning multiple segments of the public and private markets; Balyasny Asset Management, founded in 2001 with over 1,000 investment professionals across all major financial centres; and Verition Fund Management LLC, the multi-strategy, multi-manager hedge fund founded in 2008 focusing on global investment strategies.

The firms will relocate senior employees to DIFC to conduct portfolio management and investor relations activities.