Liongate Capital Management, a fund of hedge funds manager, has opened its Dubai office and been awarded a license by the Dubai Financial Services Authority to operate from the Dubai International Financial Centre DIFC.

With this move, Liongate Capital Management is consolidating its presence in the Mena region, where it has long-standing clients in the countries of the Gulf region.

The Dubai office will focus on advising institutional clients in the Mena region on allocations to hedge fund investment strategies. The office will also serve as a vehicle for capitalising on regional investment opportunities and will be hiring staff for its research department.
 
Abdulla Mohammed Al Awar, chief executive of the DIFC Authority, says: “Over the last few years, DIFC has provided a growth-oriented regulatory platform for financial services companies in a variety of niche sectors to develop their business in the region. Liongate Capital Management’s experience in fund of hedge funds management will bring fresh new expertise to the DIFC business community and offer more choices to investors in the region. We look forward to supporting Liongate Capital Management in setting up and developing its business out of DIFC.” 
 
Liongate has appointed Fahad Al-Bader, a seasoned allocator to hedge funds, as senior executive officer of the Dubai office. Al-Bader has over six years experience of investing in hedge funds. Previously, he was head of hedge funds at the Kuwait Fund, head of alternative investments at Ryada Capital and an investment analyst at Kuwait Investment Authority.
 
Randall Dillard, chief executive of Liongate Capital Management, says: “Liongate Capital Management has a long-term commitment to its investors. The establishment of the Dubai office is an important and integral part of our international growth strategy, and underlines our focus on allocating resources to bring us closer to our investors, both current and future. Being closer to our investors in the region is an additional way to help them navigate through these difficult times”.

As part of the Dubai office, Liongate Capital Management has established an advisory board, drawing on the expertise of experienced regional investors in hedge funds. The advisory board members will assist Liongate Capital Management’s development in the region.