Hedge Fund Melqart Set to Join Wave of Firms Expanding in Dubai

Michel Massoud’s Melqart Asset Management is seeking to open an office in Dubai, becoming the latest hedge fund to expand into the Middle Eastern city as it cements its status as an industry hub.

The London-based firm, which manages about $1.4 billion, has applied for a license to operate in the Dubai International Finance Center, according to a person familiar with the matter. Melqart expects to establish a presence in the second quarter, with both investment and non-investment staff on the ground, the person said, requesting anonymity because the information is private.