French alternative investment firm AXA IM Alts has chosen Abu Dhabi's Global Market (ADGM) as the landing spot for its maiden venture into the Middle East, marking a significant step in its regional expansion strategy.
This move comes as AXA IM Alts, boasting a hefty $200 billion in assets under management, seeks to tap into the burgeoning investment landscape of the Middle East. The firm has secured a category 4 license from the Financial Services Regulatory Authority (FSRA) to establish a presence within the ADGM.
Leading the charge for AXA IM Alts in the region will be Ammar Bukhamsin, a seasoned industry professional with prior experience at financial heavyweights like Goldman Sachs, UBS, and Citi. Bukhamsin will hold the dual role of Senior Executive Officer for AXA IM Middle East and co-head of the MENA Client Group, working alongside Paris-based Francois Boissin.
The Abu Dhabi office will serve as a springboard for capital raising efforts across AXA IM Alts' comprehensive portfolio of private and alternative assets. This strategic expansion aligns with the firm's vision to capitalize on the evolving investment needs of local investors in the region by offering its extensive expertise.
Isabelle Scemama, the global head of AXA IM Alts, hailed the opening of the Abu Dhabi office as a pivotal milestone in the firm's growth strategy. She emphasized the increasing significance of the Middle East in AXA IM Alts' global expansion plans. Scemama went on to highlight that this move positions the firm to forge successful partnerships with regional investors, catering to their specific needs with the company's diverse investment solutions.
The establishment of AXA IM Alts in Abu Dhabi has also been met with enthusiasm by officials at the ADGM. Arvind Ramamurthy, Chief of Market Development at ADGM, extended a warm welcome to the firm, acknowledging its valuable expertise and innovative capabilities. Ramamurthy expressed his confidence that AXA IM Alts' presence would further enrich the dynamic ecosystem of the ADGM and contribute significantly to the region's financial landscape.