Race For Private Markets Firms To Establish UAE Office Gets Hotter

Sweden’s EQT AB, France’s Eurazeo and UK-based Pollen Street Capital are among those setting up in Abu Dhabi, according to a Bloomberg report after speaking to people familiar with the matter. Meanwhile, New York-headquartered Baron Capital Management, and Silver Point Capital Management, based in Greenwich, Charlotte, have recently established a presence in Dubai.

The report said that these firms have been undeterred by the recent tensions in the region because of the Israel’s operations in Gaza and then the Israel-Iran war. After years of tapping the Gulf mainly as a fundraising source, some of the biggest names in the business, Brookfield Asset Management and KKR & Company, have pivoted to deploying investment professionals on the ground and are actively seeking to invest capital in the region.

The shift comes as high interest rates and sluggish deal pipelines in the US and Europe push managers to seek faster-growing markets –  and to deepen relationships with Gulf sovereign funds and wealthy families, who have become critical limited partners, Bloomberg added.

UAE emerges as private equity hub

The growing presence of private equity firms in the UAE comes alongside a wave of expansion by hedge funds and other alternative asset managers.

EQT is a purpose-driven global investment organisation focused on active ownership strategies. It has a track record of more than three decades of developing companies across multiple geographies, sectors and strategies. The company has EUR‌​​273​‌ billion (US$322 billion) in total assets under management as of 31 March 2025, within two business segments – Private Capital and Real Assets.

EQT, which has its headquarters in Stockholm, is planning to have investment professionals on the ground in Abu Dhabi and is planning to do deals in the region, the sources told Bloomberg. It may  also open offices in other regional cities.

Eurazeo plans to open an office in Abu Dhabi this year with new hires and staff relocations and is considering expanding into other regional markets.

Bloomberg said the Paris-based asset manager is not just targeting the region for fundraising; it also intends to invest locally. The effort is being led by Adrien Pinelli, a managing director in the firm’s investor relations team.

Eurazeo has more than US$43.4 billion in assets under management with 13 offices worldwide. It has over 20 years of experience in managing dedicated funds, and provides institutional investors with tailored access to private markets via three investment strategies – commitments to primary funds, secondary transactions, and direct equity co-investments.

Pollen Street Capital is also in the early stages of establishing a presence in the Middle East. The alternative asset manager, which oversees over $7 billion, recently registered in Abu Dhabi.

Bloomberg reached out to representatives of the firms, but they declined to comment.

Baron Capital, which has registered in Dubai, has nearly US$41 billion under management. Silver Point Capital has deployed close to US$155 billion in capital.

Last month, Swiss-based Partners Group, one of the largest firms in the global private markets industry with around 1,800 professionals and over US$150 billion in assets under management, expanded its presence in the Middle East with the opening of a new regional headquarters in Abu Dhabi. It already had an office in Dubai since 2010.