Tue, 24/07/2012 - 06:28
PineBridge Investments, a multi-asset class investment manager, has selected Bahrain as the location for its Middle East and North Africa headquarters.
PineBridge is an independent asset manager with over USD67bn of assets under management for institutional and individual clients across a platform of listed equity, fixed income and private equity and hedge fund strategies.
PineBridge has hubs in New York City and Hong Kong, and offices in over 20 countries.
PineBridge has received a Category 1 license from the Central Bank of Bahrain and is currently in the process of establishing its regional headquarters in Manama.
The new firm, PineBridge Investments Middle East (PBIME), will cover the Middle East, North Africa and Turkey. PineBridge currently has offices in Dubai and Istanbul.
HE Kamal bin Ahmed, acting chief executive of the Bahrain Economic Development Board, says: “We are delighted to welcome PineBridge to Bahrain. PineBridge has strong experience in a range of international markets and the management team based in Bahrain has impressive expertise in the MENA region.
“Attracting international investment forms an important part of our plan to create long term sustainable growth in Bahrain, make the private sector the engine of economic expansion and create jobs and opportunities for all Bahrainis. We wish PineBridge every success.”
Talal Al Zain (pictured), chief executive of PineBridge Investments Middle East, says: “With its strong and recognised regulatory environment, we believe that the Kingdom of Bahrain is a good location to headquarter PBIME. Backed by an extensive global network, broad capabilities and established track record across all asset classes, PBIME is well positioned to serve diverse sets of clients in key investment categories, including large institutions and private clients looking for differentiated products and competitive risk adjusted returns.”
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