Key Takeaways
- • Advent has opened an office in Abu Dhabi's ADGM financial hub, becoming the latest private equity firm to establish a presence in the emirate, according to a statement seen by Bloomberg News.
- • The office will be headed by Mehdi Iraqi, managing director for limited partner services, who joined Advent in January.
- • Iraqi brings almost two decades of experience covering institutional investors across the region, with prior roles at AMG and Carlyle.
- • The expansion signals continued global investor interest in Abu Dhabi despite the lingering regional conflict.
Summary
Advent has become the latest private equity firm to open an office in Abu Dhabi, a move that underscores the emirate's continued appeal to global investors despite the lingering regional conflict, according to Bloomberg News. The new office will be located in Abu Dhabi Global Market (ADGM), the emirate's financial hub.
The office will be led by Mehdi Iraqi, managing director for limited partner services, as stated in an Advent statement seen by Bloomberg News. Iraqi joined Advent in January and has almost two decades of experience covering institutional investors across the region. His prior roles include positions at AMG and Carlyle.
The expansion reflects a broader trend of private capital firms establishing or deepening their presence in the Gulf financial centers. The focus on limited partner services suggests the office is intended to strengthen relationships with regional institutional investors, including sovereign and pension allocators, though the source does not provide specific figures on fundraising or assets under management tied to the office.
The office will be led by Mehdi Iraqi, managing director for limited partner services, as stated in an Advent statement seen by Bloomberg News. Iraqi joined Advent in January and has almost two decades of experience covering institutional investors across the region. His prior roles include positions at AMG and Carlyle.
The expansion reflects a broader trend of private capital firms establishing or deepening their presence in the Gulf financial centers. The focus on limited partner services suggests the office is intended to strengthen relationships with regional institutional investors, including sovereign and pension allocators, though the source does not provide specific figures on fundraising or assets under management tied to the office.
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