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BlackRock Gets Commercial Licence to Operate in Abu Dhabi

The world's biggest asset manager BlackRock has received a commercial licence to operate in Abu Dhabi to serve its clients in the Middle East.

  • Publish date: since 2 hour
BlackRock Gets Commercial Licence to Operate in Abu Dhabi

The world's biggest asset manager BlackRock has received a commercial licence to operate in Abu Dhabi. 

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The New York-based asset manager has almost $11.5 trillion in assets under management and plans to secure obligatory authorization to operate in the Abu Dhabi Global Market. 

BlackRock will serve its clients in the UAE and the wider Middle Eastern region. The news comes as Abu Dhabi is working towards investing global investors to boost its financial sector for economic diversification. 

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In September, Stonespeak, a US-based alternative investment company with $71.2 billion of assets under management, received regulatory approval to set up base in the ADGM to advise on investment opportunities in the UAE. 

In the same month, ADGM also welcomed its first trillion-dollar asset managers PGIM and Chicago-based investment firm Nuveen.

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