Multi-manager major Schonfeld Strategic Advisors has anchored a new Abu Dhabi-based long-short equity fund with a $500m allocation, backing veteran Waha Capital Portfolio Manager Omar Newera, according to a report by Bloomberg.
When it launches later this year, the fund will trade solely for Schonfeld for an initial exclusivity period, with the firm retaining the option to top up its stake over time.
This marks Schonfeld’s first exclusive external manager partnership under its Emerging Markets & Delta One franchise – launched in 2023 and led in Dubai by Riccardo Riboldi – and the firm’s inaugural UAE-based hedge fund commitment. It follows a broader industry tilt where multi-strategy funds such as Millennium and Point72 routinely seed top talent with substantial capital.
Schonfeld’s Dubai hub has swelled to over 10 investment professionals over the past 18 months, deploying both quantitative and fundamental approaches across basis trades, index rebalances, special situations, and volatility strategies. The Newera vehicle will slot into this platform, delivering dedicated Middle East & Africa equity expertise.
Newera brings 14 years of Emerging Markets pedigree – spanning stints at Waha and FIM Partners – and is deeply rooted in the region, having been UAE-based since 2009. His track record of navigating complex local dynamics made him an ideal candidate for Schonfeld’s push into regional external manager programs.
