Stonepeak, an alternative investment firm specializing in infrastructure and real assets, today announced the opening of an office in Abu Dhabi, United Arab Emirates (UAE), having received the Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) to arrange and advise on investments in the UAE.
The firm plans to utilize its local presence to “expand its network for potential investment opportunities, better serve its partners in the region, and continue to build key relationships.”
Arvind Ramamurthy, Chief of Market Development at ADGM, said that ADGM provides an ideal environment for Stonepeak’s regional expansion.
In addition to its newly established presence in Abu Dhabi, Stonepeak employs “more than 250 people in New York, Houston, London, Hong Kong, Seoul, Singapore, Sydney, and Tokyo.”
The firm manages approximately $71.2 billion “in assets on behalf of its partners.”
As covered, PGIM, the $1.33 trillion global investment management business of Prudential Financial, Inc., has received Financial Services Permission (FSP) to operate in Abu Dhabi Global Market (ADGM) and has opened a new office in Abu Dhabi, “located in the heart of the city’s financial district.”
Establishing its local entity marks PGIM’s formal “entry into the Middle East market, underscoring its commitment to serving institutional and professional clients in the region.”
PGIM is dedicated to providing “innovative investment strategies and comprehensive client advisory services to regional investors, helping them navigate market complexities and achieve their financial goals.”
