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Fortune
Fortune
Eleanor Pringle

As billionaire hedge fund managers flock to the Middle East, a key official says watch out for Abu Dhabi as a financial hub in the next 2 to 3 years

(Credit: Cole Burston/Fortune)

There's London, New York, and Hong Kong, of course. More recently, Miami and Singapore have made strong cases as emerging financial hubs. And now—Abu Dhabi?

In April, one of the hedge fund industry's biggest names, the billionaire investor and Bridgewater Associates founder Ray Dalio, announced he was opening a branch of his family office in the the UAE capital city as part of his wider push into the Middle East. And in recent years, Abu Dhabi has successfully attracted the attention of other top financial firms. Billionaire Alan Howard, the cofounder of Brevan Howard Asset Management, has sung the praises of the hub in the UAE, having also opened an office there earlier this year.

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