Private credit manager Golub Capital has expanded its presence in the Middle East by establishing a new office in Abu Dhabi Global Market (ADGM), Abu Dhabi’s international financial centre.
Polen Capital, an investment company specialising in growth equity and credit, also announced plans to open an office in ADGM.
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Both companies have secured in-principle approval (IPA) for a licence from the Financial Services Regulatory Authority (FSRA).
The new office is anticipated to enhance Polen Capital’s client services in the region and leverage growth opportunities in one of the world’s leading financial hubs.
Meanwhile, Golub appointed Naser Almutairi as managing director, Middle East. Almutairi brings over 17 years of regional expertise to Golub Capital, with a focus on the Middle East.
His most recent role was at Wafra, where as managing director, he spearheaded business development efforts across several key markets, including Kuwait, Qatar, Bahrain, Saudi Arabia, and the UAE.
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By GlobalDataBefore his stint at Wafra, Almutairi spent over three years at Goldman Sachs in London, managing investor relationships in the GCC.
ADGM market development chief Arvind Ramamurthy said: “We are confident that ADGM’s strategic location and business-friendly infrastructure will support Golub Capital’s growth ambitions and enable them to build deeper connections with investors in the region.”
Almutairi joins Basil Hurst, managing director in the Global Institutional Sales Group at Golub Capital, who has also recently relocated to London.
Hurst’s move is strategic, aiming to lead the firm’s initiatives in the Middle East and enhance partnerships within the region.
Golub CEO Lawrence Golub said: “Both our new office in ADGM and Naser’s appointment are part of our commitment to providing Golub Capital private credit strategies to investors in the Middle East and to providing gold standard client service to our growing investor base here.”
As of 1 October 2024, Golub reported employee headcount of over 1,000 and managed more than $70bn of capital. The company’s offices span North America, Europe, and Asia.
In 2022, iCapital Network partnered with Golub to offer wealth managers access to private credit strategies, combining Golub’s expertise with iCapital’s technology and support.
