Abu Dhabi Financial Group first to launch fund on Abu Dhabi Global Market
Abu Dhabi Financial Group (“ADFG”) has become the first company to launch a fund through the Abu Dhabi Global Market (“ADGM”), the Goldilocks Investment Company (“Goldilocks”).
With an investment approach targeting undervalued opportunities on GCC markets, the AED735 million (US$200 million), ADFG-managed Goldilocks fund aims to seek out equities with a compelling risk/reward profile, and where the Group’s involvement can act as a catalyst to increase value for all stakeholders by way of improvement of management trends and governance amongst other strategies. Goldilocks is open to regional and international investors, providing access to a pioneering investment strategy billed “constructivism” – or constructive activism – a first for the region. Over the last year, ADFG’s capital markets business, Integrated Capital, has invested in a similar strategy, delivering returns in excess of 120 percent.
Commenting on the launch of Goldilocks, Jassim Alseddiqi, CEO of ADFG, said: “ADFG is proud to record another pioneering achievement in launching the first fund through ADGM, the world’s newest international financial centre and a global beacon for the Abu Dhabi financial services industry. ADGM provides an ideal home for Goldilocks, a dynamic fund which intends to have a more active role in creating value from its holdings.”
“Through Goldilocks, ADFG will continue to seek out opportunities in equity markets where it can positively transform a company’s fortune, revitalising the business strategy and providing the impetus to spur it on to future success.”
H.E Ahmed Al Sayegh, Chairman of ADGM, added: “We are pleased to welcome Abu Dhabi Financial Group to the ADGM family and congratulate Mr Jassim Alseddiqi and his team on the successful flagship launch of the Goldilocks Investment Company. Home-grown entities and stakeholders have always been one of the vital and sustaining pillars of international financial centres. As an IFC and financial regulator, ADGM is committed to provide a robust eco-system and reliable regulatory framework aimed at attracting a wide variety of leading companies and investment funds that add vibrancy to our marketplace in Abu Dhabi and the UAE. Linked by the mission of advancing Abu Dhabi’s plans and economic ambition, we will explore all opportunities to support our local institutions to become regional and global champions. At the same time, we continue to welcome more regional and international firms to base their presence and ambitions in Abu Dhabi and with ADGM.”
The ADGM funds platform allows fund managers, located both within and outside of ADGM, to efficiently establish funds within its jurisdiction, utilising a wide range of available corporate, limited partnership and trust vehicles, including Sharia compliant funds and structures, to all investor types while maintaining proportionate levels of investor protection.