Citadel, the $72bn hedge fund led by Ken Griffin, is set to establish an office in Dubai next year, marking a significant expansion into the UAE and a boost for the city’s ambitions as a hedge fund hub, according to a report by Bloomberg.
The new outpost will become Citadel’s 18th global office.
The Dubai office will initially house members of Citadel’s Fixed Income and Macro team, led by Edwin Lin, and aims to strengthen the firm’s 24-hour trading capabilities while deepening relationships with companies in the Gulf region.
Citadel’s move follows a trend of major hedge funds migrating to Dubai and Abu Dhabi, attracted by a growing talent pool, expanding regional capital markets, zero personal income tax, and favourable regulatory frameworks. Other firms, including Brevan Howard Asset Management, Millennium Management, Hudson Bay Capital, Marshall Wace, and Arini, have already established UAE operations in recent years.
Dubai’s financial hub now hosts more than 100 hedge funds, while Abu Dhabi’s presence is also expanding rapidly.
