Dubai Is the Newest Hedge Fund Hotspot

More and more financiers are choosing to expand in the emirate.

The Dubai International Financial Centre (DIFC) in Dubai, United Arab Emirates. — The Dubai International Financial Centre (DIFC) in Dubai, United Arab Emirates.
Photographer: Christopher Pike/Bloomberg

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By Nicolas Parasie, Archana Narayanan, and Nishant Kumar

July 1, 2022 at 11:01 AM UTC

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After attracting crypto firms, property investors and Russian billionaires, Dubai is drawing a new crowd: hedge fund managers.

Izzy Englander’s Millennium Management has grown its staff in the Dubai International Financial Centre to about 30 since securing a license in 2020. Michael Gelband's ExodusPoint Capital Management, one of the largest multi-strategy hedge funds in the world, registered in the DIFC in June, according to a filing.