Citadel Plans Dubai Office in Boost for City’s Hedge Fund Hopes

Ken Griffin’s Citadel is establishing an office in Dubai, becoming one of the last major hedge fund holdouts to set up shop in the United Arab Emirates and marking a significant win for the city’s attempts to become a hub for the industry.

The $72 billion firm plans to open an outpost in the emirate’s financial center next year. The move will extend Citadel’s presence to an 18th city and comes as the world’s largest hedge funds increasingly migrate to Dubai and Abu Dhabi, amid a growing talent pool and expanding regional capital markets.