AXA IM Alts, the alternative investments provider with $200bn of assets under management as of end March, has opened its first office in the Middle East in the Abu Dhabi international financial centre.
The Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA) has authorised AXA IM Alts to establish a category 4 license firm within the jurisdiction.
The office will be the provider’s 16th globally, and will be focused on capital raising across a private and alternative assets range. It will facilitiate client servicing through the local presence in the region.
Ammar Bukhamsin has been appointed to lead the local office and as co-head MENA Client Group at AXA IM Alts. He will also serve as the senior executive officer of AXA IM Middle East.
François Boissin has been promoted to co-head of the MENA Client Group Alts.
Both appointees will report to Florence Dard, global head of Client Group at AXA IM Alts.
Bukhamsin previously spent over eight years at Natixis, including three years as the firm’s CEO for Saudi Arabia, during a 20-year career encompassing senior sales roles at Goldman Sachs, UBS and Citi. He will be based in Abu Dhabi.
Boissin has spent the past nine years within AXA, first as vice president, Investor Relations for the AXA Group and then in capital raising at AXA IM Alts for the past two years, as part of a 20-year career in finance and sales. He will remain based in Paris.
AXA IM Alts claims expertise in real estate, alternative credit, infrastructure, natural capital and impact investing. These will be brought to local institutional investors in the region together with the enhanced client servicing through a dedicated local presence.
Isabelle Scemama, global head of AXA IM Alts, said: “The opening of our new office in Abu Dhabi marks a significant milestone in our expansion strategy and underscores the strategic importance of the Middle East in our international growth plans. This move marks a natural progression for our business in the region and paves the way for further successful partnerships with local investors to meet their rapidly evolving investment requirements, across AXA IM Alts’ expertise.”
Florence Dard, global head of Client Group at AXA IM Alts, said: “Having built strong relationships in the Middle East over a number of years, the opening of an office in Abu Dhabi is a natural step forward in our strategy to both grow our presence and accelerate our business development in the region. As a global leading alternative player, we have actively engaged with a large number of sophisticated Middle Eastern investors who seek attractive alternative investment opportunities, especially in Europe where we have a unique sourcing, access and breadth of offering.”
Arvind Ramamurthy, chief of Market Development at ADGM, said: “We congratulate and welcome AXA IM Alts on its recent expansion with a dedicated presence within ADGM, Abu Dhabi’s international financial centre. Abu Dhabi, also known as the ‘Capital of Capital,’ has become a premier destination due to its sophisticated regulatory regimes and abundant investment opportunities. As an anchored asset management firm, we look forward to the various expertise and innovative capabilities that AXA IM Alts will bring to ADGM’s vibrant ecosystem and to the region.”
This article first appeared on IA’s sister title Investment International.
