OneIM is granted a financial services permission in ADGM
Abu Dhabi, 25 May 2023: One Investment Management (“OneIM”), a global alternative investment manager, has now been granted a Financial Services Permission (FSP) from the Abu Dhabi Global Market’s (ADGM) Financial Services Regulatory Authority (FSRA). This FSP will enable OneIM to manage collective investment funds in ADGM and to implement its business strategy.
OneIM is the third asset management firm to be licensed in Abu Dhabi by the FSRA this year, and their inclusion builds on the rapid progress and growth ADGM is making as an International Financial Centre (IFC), with a comprehensive regulatory system that is based on international regulatory standards and the English Common Law. ADGM has recently attracted many investment firms; the number of licensed asset management firms has more than tripled within the IFC in the past two years.
Rajeev Misra, CEO of OneIM, commented, “Abu Dhabi has become an international hub for investors, employers and employees alike. This FSP will enable us to pursue many of the exciting opportunities we see in this region and to ultimately propel the firm into the next stage of its journey.”
Arvind Ramamurthy, Chief of Markets at ADGM said, “We are pleased to welcome them to Abu Dhabi’s robust international financial centre and the ‘capital of capital’. ADGM has built a strong track record as a progressive and ever-evolving regulatory environment for a thriving asset management industry. Our enabling fund framework balances a business-friendly environment for leading global private equity fund managers, helping new players to enter the market and providing them with the flexibility to structure a wide variety of funds. With the addition of OneIM, we look forward to continuing to achieve exponential growth in the asset management landscape of Abu Dhabi, the UAE, and the wider region.”
The year 2022 saw ADGM’s efforts for this sector resulting in assets under management growing by 56% making it one of the fastest-growing IFCs in the region.
