Nuveen, a prominent global asset manager with $1.2 trillion in assets under management, has strategically enhanced its presence in the Middle East by establishing an office in Abu Dhabi’s financial hub, Abu Dhabi Global Market (ADGM). This move underscores Nuveen’s commitment to deepening relationships with regional institutional investors, particularly sovereign wealth funds.
Leading the new office is Fadi Khoury, appointed as Managing Director and Head of Middle East operations. Khoury brings over two decades of experience in international markets, previously serving at Columbia Threadneedle. His role focuses on driving business development and strengthening client engagement across the region. He joins a team that includes Wael Bayazid, who has been with Nuveen since 2022, and Matthew Hamber, Vice President for the Middle East, who relocated from London earlier this year to concentrate on regional business development.
Nuveen’s registration with ADGM aligns it with other influential global investors in a jurisdiction known for its robust regulatory environment and commitment to financial innovation. This strategic positioning is expected to enhance Nuveen’s service offerings to clients and contribute actively to the local financial ecosystem.
Mike Perry, Head of Nuveen’s Global Client Group, emphasized the significance of this expansion, noting that the firm’s extensive experience is complemented by Khoury’s deep understanding of the market. Perry highlighted growing interest from performance-driven institutions and investors across the Middle East in Nuveen’s expertise, particularly in private capital, real assets, and fixed income capabilities.
The Middle East, home to sovereign wealth funds with substantial assets, has been attracting global financial firms seeking to tap into the region’s investment potential. Abu Dhabi, in particular, has been positioning itself as a burgeoning financial hub, competing with other regional centers by attracting financial services firms to diversify its economy beyond fossil fuels.
Nuveen’s move into Abu Dhabi follows similar expansions by other large asset managers. The firm’s decision to establish a physical presence in the region reflects a commitment to being an active participant in the local financial marketplace, moving beyond the traditional model of remote client engagement.
The new office will initially house a team dedicated to managing relationships with regional institutional clients. However, there is potential for expansion, particularly if Nuveen begins investing locally in assets such as real estate. Perry indicated that the firm’s Middle Eastern clients are increasingly interested in diversifying into private debt and energy transition investments, areas where Nuveen has significant expertise.
Nuveen’s expansion into the Middle East is part of a broader international growth strategy aimed at cementing its position as a leading global asset manager in key financial markets worldwide. The firm collectively serves approximately 400 institutional clients in the Europe, Middle East, and Africa (EMEA) region, including pension funds, insurance companies, sovereign wealth funds, banks, and family offices. By offering a wide range of solutions across public and alternative investment strategies, Nuveen aims to meet the evolving needs of investors in the region.
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