Capital Group and Man Group Plan Abu Dhabi Bases at ADGM
The moves highlight ADGM’s pull from clear rules, stable courts, and proximity to sovereign capital.
Overview
- Capital Group said it will open an office in Abu Dhabi’s financial free zone, Abu Dhabi Global Market, subject to regulatory approval.
- Man Group submitted an application for an ADGM Category 3A licence, which would allow it to manage assets and advise clients in the centre.
- Capital Group will relocate Benno Klingenberg-Timm to run the new office, as the firm pursues a long-term expansion in the Middle East.
- Man Group, the world’s largest listed hedge fund with about $228.7 billion in assets, said the Abu Dhabi plan supports a regional hub for distribution, investing, and trading.
- ADGM reported a 36% jump in assets under management in 2025 and more than 12,000 active licences, as global firms like BlackRock, State Street, PGIM, Nuveen, Barings, and Bain Capital establish local bases.