Michel Massoud’s London-based Melqart Asset Management is planning to open an office in Dubai, joining a growing wave of hedge funds establishing a presence in the Middle East, and the United Arab Emirates in particular. according to a report by Bloomberg.
The firm, which manages approximately $1.4bn, has applied for a license to operate in the Dubai International Financial Centre and expects to launch in the second quarter of 2026 with both investment and support staff on the ground.
Melqart, known for its special situations and event-driven strategies, posted a record 45.1% gain last year through its Opportunities Fund, driven primarily by special situations trades, with merger arbitrage and credit strategies contributing around 40% of returns.
Dubai and Abu Dhabi have become increasingly attractive to hedge funds due to favourable regulation, zero personal income tax, strategic time-zone positioning, and access to large pools of capital, including $1tn held by family offices in Dubai and $1.8tn in Abu Dhabi’s sovereign wealth. Other prominent hedge funds with a regional presence include Citadel, Baron Capital, BlueCrest Capital, Marshall Wace, and Arini Capital.
