Singapore’s RV Capital is set to join the hedge fund influx into Dubai
The firm joins a growing number of Asian investment outfits that are looking to join their western peers in the United Arab Emirates
Singapore-based macro hedge fund RV Capital Management is set to open an office in Dubai, a move that will further bolster the Middle Eastern city’s credentials as a burgeoning hub for the industry.
The Asia-focused firm, which manages US$1 billion in assets, has hired Aziz Faqir as chief executive officer and is currently in the process of setting up a branch office in the Dubai International Financial Centre, according to a statement on Thursday (Apr 10).
Faqir will officially assume his new role in early June. He joins from London-based Carrhae Capital, where he oversaw a sixfold growth in assets to US$3 billion. “He brings a strong track record of building meaningful investor relationships, and his experience will be instrumental as we broaden our global engagement,” said RV Capital co-founder and chief investment officer Ronnie Roy.
The firm joins a growing number of Asian investment outfits that are looking to join their western peers in the United Arab Emirates. The country’s tax-free status, deep-pocketed sovereign wealth funds and favourable time zones have helped Abu Dhabi and Dubai become more serious competitors to financial hubs like London and Hong Kong.
Shane Bolton, a former partner at Goldman Sachs Group will succeed Faqir as Carrhae CEO. BLOOMBERG
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