Key facts
- Balyasny Asset Management has secured regulatory approval to open an office in Abu Dhabi's ADGM.
- The firm plans to commence operations in the first half of 2026.
- Balyasny already has a presence in Dubai, having opened an office there in 2023.
- The expansion places Balyasny among a growing number of global hedge funds establishing dual bases in the UAE.
- Abu Dhabi offers proximity to institutional capital, including the Abu Dhabi Investment Authority (ADIA).
Balyasny Asset Management (BAM) is set to expand its presence in the United Arab Emirates with plans to open an office in Abu Dhabi's financial free zone, the ADGM. This strategic move comes two years after the firm established its first regional base in Dubai.
According to reports citing unnamed sources, BAM has submitted an application to ADGM regulators and aims to begin operations in the first half of 2026. The firm, led by founder and Chief Investment Officer Dmitry Balyasny, currently operates from the Dubai International Financial Centre (DIFC), where it established a presence in 2023.
This expansion positions Balyasny among an increasing number of global hedge fund managers who are developing a dual-emirate strategy within the UAE, as the region solidifies its status as a key hub for alternative investment firms. Other firms like Hudson Bay Capital, Millennium, Marshall Wace, and Brevan Howard have also expanded their operations in the UAE.
While Dubai's DIFC continues to attract significant private wealth, with family offices managing over $1 trillion in assets, Abu Dhabi offers direct access to substantial institutional capital. The Abu Dhabi Investment Authority (ADIA), with approximately $1.1 trillion in assets, has been increasing its allocations to hedge funds through separately managed accounts. Additionally, local alternatives firm Lunate has been actively increasing its involvement, including a stake in Brevan Howard and a $2 billion commitment to a new Abu Dhabi-based platform.