Dundee, a Canada-based asset management company, has said that its subsidiary Arabia-Asia Capital Alliance, has received a license from Dubai Financial Services Authority (DFSA) to operate in the Dubai International Financial Centre (DIFC).
According to Dundee, the new office will enable Arabia-Asia Capital Alliance to provide asset management products to the Middle East and North African (MENA) region’s sovereign funds, institutional funds, family offices and high net-worth individuals.
Ned Goodman, president and CEO of Dundee, said: "We are excited about creating a presence in MENA region which services over 318 million people representing an aggregate of approximately $3 trillion of capital assets. Arabia-Asia will provide the local presence required to access capital and create partnerships in asset management.
"Dundee’s intention is to bring the highest quality investment opportunities to the region, increasing our access to capital for unique and major projects. Dubai is reputable for its diverse and international business range, making receipt of our licence with the DFSA a vital and strategic move to further trusted, strong relationships that are the key to running a respected business in the region."