Abu Dhabi - Mubasher: Sculptor Capital Management has received regulatory approval to operate in Abu Dhabi, the UAE capital, joining a growing wave of global financial institutions that have chosen to establish their headquarters in the emirate, one of the region's most prominent financial and investment hubs .

According to Abu Dhabi Global Market records, three directors are registered as managing agents for the new company's unit, including Adrian Kohlberg, the company's co-CEO and head of global client partnerships, who recently relocated to the UAE and currently resides in Dubai .

Sculptor manages approximately $34 billion in assets and already has a representative office in the Dubai International Financial Centre, according to a filing with the U.S. Securities and Exchange Commission in March .

The company has not issued any official comment on the news yet, as requests submitted outside of official business hours have not been responded to .

Sculptor has a history of activity in the Middle East, having previously played a role in the restructuring of the NMC Healthcare Group in 2020 .

This move comes as part of Abu Dhabi's ongoing efforts to consolidate its position as a prominent regional financial and commercial center, in clear competition with cities like Dubai and Riyadh. The UAE capital is home to three sovereign wealth funds managing assets estimated at $1.7 trillion, enhancing its appeal as a headquarters for global investment firms .

The emirate has recently attracted a number of major financial institutions, including BlackRock Inc. and Seviora , the investment arm of Temasek Holdings , which manages assets worth $54 billion .

This expansion comes at a time when other countries in the region, such as Kuwait and Qatar, are seeking to enhance their efforts to attract global companies, reflecting growing regional competition to attract international capital and financial institutions .