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TCI Fund Management opens Abu Dhabi office

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TCI Fund Management Limited (TCI), the $60bn London-headquartered hedge fund firm found by Chris Hohn, has established a presence in the United Arab Emirates (UAE) with the opening of an office in Abu Dhabi.

Bronwyn Owen, Global Head of Investor Relations and Director of TCI Fund Management (AD) Limited has relocated to Abu Dhabi from New York and will head up the new office.

TCI is the latest big name hedge fund firm to makes a UAE move with the likes of Millennium Management, ExodusPoint Capital Management, Balyasny Asset Management, Bridgewater Associates, and Brevan Howard Asset Management either already operating there or in the process of setting up business.

In total there are now approximately 500 hedge funds operating in either Abu Dhabi or Dubai, with dozens more reportedly seeking regulatory approval to begin operations in the UAE.

In a statement, TCI said that it plans to leverage the Abu Dhabi office and in-person presence to build key regional relationships. A physical location in the region provides TCI access to valuable markets in terms of talent and capital as it continues to expand its capabilities and expertise. Further, the office provides TCI, a foothold in the region that can be leveraged to continue its effortss climate action within the private finance sector.

“The Middle East is a vital market for the investment management industry, both from a talent and asset growth perspective, as well as a critical partner in global efforts to reduce carbon emissions and climate change,” said Hohn, TCI Founder and Portfolio Manager. “We look forward to establishing our team there to reach a broader investor base and to expand my philanthropic activities. We are also excited to partner with the local community to help enhance opportunities for investment managers in the region and to further our ongoing efforts to reduce the impacts of the present climate crisis through pushing for climate action plans.”

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