Brevan Howard to capitalise on Abu Dhabi growth

• Hedge fund has 150 staff in Abu Dhabi
• It manages $34bn worldwide
• Founder speaking at Abu Dhabi Finance Week

Abu Dhabi has become Brevan Howard’s largest global base, according to its billionaire founder Alan Howard, managing more money and employing more traders in the UAE capital than anywhere else.

The UK hedge fund opened in the UAE capital in 2023 with 15 staff. Headcount has since grown to about 150, Howard told Abu Dhabi Finance Week. 

“We have more money managed here than anywhere else in the world for us,” he said. “And I think it’s going to continue to grow.”

Brevan Howard, which oversees about $34 billion worldwide, has offices across Europe, North America and Asia. 

It is expanding in Abu Dhabi as the city positions itself as a major international business district. 

This week, sovereign wealth fund Mubadala and developer Aldar announced a $16 billion plan to develop the final vacant plot on Al Maryah Island, home to the Abu Dhabi Global Market (ADGM). 

The project will add more than 450,000 square metres of grade-A office space to a district that already has more than 11,000 active licences and 40,000 professionals.

Further reading:

• Lunate to take stake in UK hedge fund Brevan Howard
• $33bn hedge fund hails ‘unprecedented opportunity’ in GCC
• Global hedge funds expand presence in Dubai and Abu Dhabi

Howard said his hedge fund would be looking to take more space in ADGM.

“Abu Dhabi is clearly on its way to becoming a global financial centre. I said a couple of years ago I thought it could be the third leg, or one of the three legs, with New York and London, and I think it’s fully on that way,” he said.

In August Abu Dhabi-based alternative asset manager Lunate bought a minority stake in Brevan Howard. The two companies have since launched a fund platform in ADGM, with Lunate committing an initial $2 billion.