Key Takeaways
- • ADAPT Investment Managers, a $2.1bn Swiss relative-value hedge fund, has established an office in Abu Dhabi, marking its fourth global location and the latest expansion by an international hedge fund into the Gulf region.
- • Daniel Mullarkey, recently hired as senior research analyst, is heading the new Abu Dhabi office, which joins existing operations in Geneva, Zug, and New York.
- • The firm's flagship fund returned 1.77% in July 2026, bringing year-to-date performance to +0.23% through the first seven months, recovering from negative territory earlier in the year.
- • ADAPT's Abu Dhabi expansion reflects a broader institutional trend of alternative asset managers establishing Gulf-based operations to access regional capital and capitalize on the emirate's growing investment infrastructure.
Summary
Swiss relative-value hedge fund ADAPT Investment Managers has opened an office in Abu Dhabi as part of a broader expansion strategy positioning the firm closer to Gulf capital markets. The $2.1bn manager, which maintains offices in Geneva, Zug, and New York, now operates from four locations globally, with the Abu Dhabi office representing its first Middle Eastern presence.
The new Abu Dhabi operation is headed by Daniel Mullarkey, who joined ADAPT as a senior research analyst and is leading the emirate's initiative. The timing of the expansion underscores Abu Dhabi's increasingly competitive position as a destination for alternative investment managers seeking exposure to regional institutional capital and enhanced operational infrastructure within the GCC.
ADAPT's flagship fund, launched in March 2020, held $2.11bn in assets under management as of early August 2026. Recent performance has shown recovery, with the fund posting a 1.77% return in July alone, which brought cumulative year-to-date performance into positive territory at +0.23% through the first seven months of 2026. This recovery marks a turnaround from earlier losses in the year and positions the fund in line with relative-value strategy benchmarks during a period of moderate volatility in equity and fixed-income markets.
The expansion into Abu Dhabi joins a wave of international hedge fund relocations and office openings throughout the Gulf region, reflecting shifting capital flows and institutional appetite for alternative investment vehicles in Middle Eastern markets. ADAPT's move signals confidence in both its own growth trajectory and the stability of Abu Dhabi's regulatory environment for sophisticated asset managers.
The new Abu Dhabi operation is headed by Daniel Mullarkey, who joined ADAPT as a senior research analyst and is leading the emirate's initiative. The timing of the expansion underscores Abu Dhabi's increasingly competitive position as a destination for alternative investment managers seeking exposure to regional institutional capital and enhanced operational infrastructure within the GCC.
ADAPT's flagship fund, launched in March 2020, held $2.11bn in assets under management as of early August 2026. Recent performance has shown recovery, with the fund posting a 1.77% return in July alone, which brought cumulative year-to-date performance into positive territory at +0.23% through the first seven months of 2026. This recovery marks a turnaround from earlier losses in the year and positions the fund in line with relative-value strategy benchmarks during a period of moderate volatility in equity and fixed-income markets.
The expansion into Abu Dhabi joins a wave of international hedge fund relocations and office openings throughout the Gulf region, reflecting shifting capital flows and institutional appetite for alternative investment vehicles in Middle Eastern markets. ADAPT's move signals confidence in both its own growth trajectory and the stability of Abu Dhabi's regulatory environment for sophisticated asset managers.
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