Hudson Bay Capital Management, the $20bn multi-strategy hedge fund, is expanding its Gulf presence by opening a new office in Abu Dhabi, marking its second outpost in the United Arab Emirates following its Dubai launch in 2023, according to a report by Bloomberg.

The report cites unnamed people familiar with the mater as confirming that the Stamford, Connecticut-based firm is planning to open the Abu Dhabi office before the end of 2025, adding to Hudson Bay’s existing 10-person team in Dubai International Financial Centre (DIFC).

Hudson Bay, which also manages credit and real estate portfolios alongside its core hedge fund strategies, joins a growing roster of global asset managers establishing a presence in Abu Dhabi Global Market (ADGM). Heavyweights such as Marshall Wace, Brevan Howard, and Arini Capital are among those lured by the emirate’s investor-friendly environment, robust regulatory regime, and access to deep pools of sovereign wealth.