Arrowpoint Investment Partners, the hedge fund founded by former Goldman Sachs managing director Jonathan Xiong, has received regulatory approval to operate in Dubai, as the Middle East continues to draw global hedge fund mangers, according to a report by Financial News London.
The report cites an unnamed person familiar with the matter as revealing that the firm has been authorised by the Dubai Financial Services Authority to operate as an investment management business in the Dubai International Financial Centre.
Arrowpoint was launched in 2024 by Xiong, who previously served as Asia co-chief executive at Millennium Management for more than five years, following an earlier career at Goldman Sachs. The hedge fund began trading with more than $1bn in assets and has been among the most high-profile launches of the past year.
The firm is expected to raise up to $400m in additional capital by the first quarter of 2026 to support the expansion of its investment teams, Bloomberg has reported.
Arrowpoint’s move adds to a growing list of hedge funds establishing a presence in Dubai in the post-pandemic period. Multi-manager firms including Millennium Management, Balyasny Asset Management, Schonfeld and Verition have expanded their footprint in the emirate, attracted by favourable tax conditions and proximity to capital.
Citadel, which manages around $72bn, is also planning to open an office in Dubai, while Calibrate Partners, the hedge fund founded by former Morgan Stanley UK equity trading head John White, has already established a local presence and relocated senior distribution leadership to the region.
