BlackRock gets Abu Dhabi license to tap into region's capital markets

November 18, 2024--The US asset manager's Abu Dhabi move comes weeks it announced plans to set up its regional headquarters in Saudi Arabia
The world's biggest asset manager BlackRock Inc has obtained a commercial license in Abu Dhabi and has revealed plans to seek regulatory approval to operate in the Abu Dhabi Global Market (ADGM).

The news comes weeks after the US asset manager, with $11.4 trillion in AUM, announced its plans to set up its regional headquarters in Saudi Arabia.

BlackRock said the Abu Dhabi move will allow it to work with sovereign wealth funds, wealth managers and investment vehicles based in the UAE capital, with a focus on AI infrastructure and transition focused solutions.

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Source: zawya.com