Global asset managers are stepping up their presence in the Middle East to tap rising allocations from family offices and sovereign wealth funds, as capital flows increasingly shift toward private markets.
Barings said it has opened an office in Abu Dhabi, marking its second location in the Gulf after launching in Dubai in 2024, as it seeks to deepen relationships with regional investors including family offices.
The firm said the new base in Abu Dhabi Global Market (ADGM) will allow it to work more closely with institutional clients and ultra-wealthy families allocating capital to global credit, private credit and real estate strategies.
“The Middle East continues to be a key growth region, and being on the ground enables us to better serve our clients and partner with them on investment opportunities,” Chief Executive Mike Freno said in a statement.
The expansion comes as Gulf-based family offices increase allocations to alternative assets, driven by higher oil revenues, growing pools of private wealth and a push to diversify portfolios beyond traditional public markets.
Barings said it is seeing strong demand from regional investors for income-generating strategies, particularly in private credit, as well as real estate investments tied to global recovery trends.
Waleed Zamel said Abu Dhabi is a key hub for engaging with clients seeking tailored investment solutions, adding that proximity to investors is critical as competition intensifies among global managers for Middle Eastern capital.
Officials at ADGM said the move reflects continued interest from international asset and wealth managers establishing a presence in Abu Dhabi to access regional capital and expand cross-border investment activity.
The Middle East has emerged as one of the fastest-growing centres for family office capital globally, attracting firms seeking long-term partnerships with some of the world’s largest pools of private wealth.