London-based hedge fund Melqart Asset Management plans to open an office in Dubai, adding its name to the growing list of investment firms building a presence in the city. The move would further strengthen Dubai’s role as a regional base for global finance.
Melqart, founded in 2015 by investor Michel Massoud, manages about $1.4 billion and has applied for a license in the Dubai International Financial Centre. The firm aims to open the office in the second quarter of this year and expects to place both investment and support staff there.The hedge fund would be one of many managers expanding into Dubai as the emirate attracts more international capital and financial talent.
Dubai’s draw for firms like Melqart includes its established financial free zone, a strategic time zone between Asian and European markets, and its growing community of asset managers and family offices. The expansion gives Melqart a base closer to existing and potential clients in the Middle East while maintaining its London headquarters as a core center for trading and research.