iCapital has opened its first office in the Middle East in Abu Dhabi within ADGM, the international financial center of Abu Dhabi, the Capital of the UAE. The firm has received its in-principle approval for advisory and arranging services in the ADGM, which is subject to receipt of final regulatory approval from the Financial Services Regulatory Authority (FSRA) of ADGM.
This expansion underscores iCapital’s strong commitment to the United Arab Emirates (UAE) and the wider Middle East and “strengthens its ability to deliver innovative private market solutions to banks, wealth managers, and family offices across the Gulf region.”
Establishing a presence in Abu Dhabi’s international financial center provides iCapital with “a gateway to the GCC (Gulf Corporation Council), leveraging ADGM’s globally recognized regulatory framework and dynamic ecosystem.”
Arvind Ramamurthy, Chief Market Development Officer at ADGM, said that they welcome iCapital to ADGM, as it “establishes its first office in the Middle East.”
Their decision to establish “a presence here reflects the confidence global firms place in our robust regulatory framework and vibrant financial ecosystem.”
With connectivity to international investors and a collaborative community, ADGM offers an ideal platform for firms “driving innovation in private markets.”
They look forward to iCapital’s contribution “to Abu Dhabi’s growing asset and wealth management landscape.”
Marco Bizzozero, Head of International and Member of the Executive Committee at iCapital said that the opening of their new office in Abu Dhabi marks a significant milestone in their “global expansion strategy and reinforces our long-term commitment to the GCC.”
They added that the region is one of the “fastest growing wealth markets with an increasing demand for private markets, and they are proud to support local banks, wealth managers, and their clients with a comprehensive suite of private market investment solutions.”
Bizzozero also mentioned that having a “local presence strengthens their role as a partner, underscores their ambition to develop and deepen relationships, and allows them to be closer to where clients are.”
They also stated that the new office will strengthen iCapital’s partnership with MPW Capital Advisors, a licensed and “regulated financial services firm headquartered in Abu Dhabi.”
The Abu Dhabi office will join iCapital’s global network of 17 locations and will mark “the firm’s 10th office outside the US alongside Zurich, London, Edinburgh, Lisbon, Hong Kong, Singapore, Sydney, Toronto, and Tokyo.”
With over $270 billion in platform assets, iCapital continues “to redefine access to private markets for wealth managers and their clients worldwide.”
iCapital is a global firm, focused on “shaping the future of global investing for financial advisors, wealth managers, asset managers, and other industry participants.”
iCapital offers a range of non-traditional investment “products on iCapital Marketplace, Enterprise Solutions, and Technology and Data Services, designed to help drive better outcomes for all participants in the ecosystem.”
With investment from alternative asset managers, wealth managers, and service providers globally, iCapital provides “access, data connectivity, education, and research programs to advisors and their clients.”
Leveraging AI and machine learning for digital identity (KYC/AML), iCapital supports “compliant and secure investment lifecycle processes.”
iCapital’s platform manages the lifecycle of non-traditional investment products, “making it easier to learn about, buy, manage, and integrate alternative assets, structured investments, and annuities into portfolios, driving growth, scale, and efficiency.”
Their solution(s) can be “customized and offers specific modules as needed.”
As noted in the update, iCapital has over “1 trillion of assets serviced globally on its platform, including $283.9 billion in alternative platform assets, $228.8 billion in structured investments and annuities outstanding, and $542.2 billion in client assets reported on, and serves over 3,000 wealth management firms and 121,000 active financial professionals.”
Headquartered in New York, iCapital operates with 18 offices, including major hubs in Zurich, London, Hong Kong, Singapore, Tokyo, and Toronto, and an R&D center in Lisbon.