Abu Dhabi - Mubasher: Eight global institutions, with a combined value of about $635 billion, announced the establishment of their offices in Abu Dhabi during the Abu Dhabi Finance Week 2024, which strengthened the position of Abu Dhabi Global Market (ADGM) as the fastest growing financial center in the region .

Abu Dhabi Global Market (ADGM) announced a series of 19 important announcements from a number of the world’s leading financial institutions during the third edition of Abu Dhabi Finance Week .

The announcements, which included assets under management estimated at approximately $635 billion, come after a series of notable achievements witnessed in the last quarter and the announcement by the world’s largest asset management companies, BlackRock, PGIM and Nuveen, to establish their offices in Abu Dhabi Global Market (ADGM) as well, according to a press release.

Abu Dhabi Global Market (ADGM) has confirmed that this remarkable growth, from $450 billion to $635 billion within one year, has enhanced the reputation of Abu Dhabi Global Market (ADGM) as the fastest growing financial centre in the region and one of the most dynamic jurisdictions in the world in the field of asset management .

Abu Dhabi Global Market (ADGM), the international financial centre of the UAE capital, recorded a significant 215% increase in total assets under management by the end of Q3 2024 compared to Q3 2023 .

According to a press release, the number of asset and fund managers at Abu Dhabi Global Market (ADGM) has increased to 128, currently managing 156 funds, by the end of the third quarter of 2024 .

The companies that recently joined during the third quarter of 2024 include: PGIM, Novin, and Elysium Management. It is worth noting that PGIM is an American asset management company with an investment portfolio worth $1.33 trillion, while the size of assets under management managed by Novin is $1.2 trillion .

Other companies joining ADGM include Stonepeak, a leading alternative investment firm specialising in infrastructure and real estate assets, and Gemcorp Capital .