Capricorn Fund Managers (Capricorn), a London based regulatory hosting provider, has launched a new regulatory hosting platform in Dubai that will offer hedge funds and other investment managers a fast-track to setting up operations in the emirate.
Capricorn Fund Managers (DIFC) Limited (CFMD), the Dubai International Finance Centre’s (DIFC) first dedicated investment management regulatory hosting solution, will enable managers to carry out regulated activities from the DIFC under CFMD’s regulatory umbrella. The platform is suitable for new and established investment managers across multiple strategies, including hedge funds, long only, real estate, private equity and venture capital.
Until now, investment managers operating in the DIFC have required their own licence from the DFSA. CFMD adds a new option working closely with the DFSA and DIFC ensuring that each manager is fully compliant, with the right systems and controls in place.
Dubai has emerged a hedge fund hub in recent years with over 60 managers, including industry majors Millennium Management and Balyasny Asset Management, operating in the emirate, which is now home to over 1000 hedge fund staff.
“Through Capricorn’s hosting solution, we are adding a new route for managers to get licensed and operational in Dubai,” said Salmaan Jaffery, Chief Business Development Officer. “A combination of our infrastructure, investors, strong regulatory regime, ambition and lifestyle opportunities makes Dubai a highly attractive fund hub.”
