GROW Investment Group has secured in-principle approval from Abu Dhabi Global Market’s Financial Services Regulatory Authority, advancing the Shanghai-headquartered asset manager’s plan to establish a regulated base in the emirate and target institutional capital across the Middle East.
The approval relates to the firm’s application for a Financial Services Permission, a regulatory step that precedes full authorisation. Formal clearance is expected in the coming weeks, after which GROW plans to operate from ADGM and offer asset-management, advisory and investment-access services to regional institutional investors, family offices and high-net-worth clients.
GROW manages about $1.5 billion in global assets and is positioning its Abu Dhabi expansion as a bridge between Gulf capital and China-linked investment opportunities. Its shareholder base includes Lighthouse, a US hedge fund platform, and Bank Julius Baer, Switzerland’s second-largest private bank, giving the company an international ownership profile as it pursues growth outside Asia.
Founder and Global Chief Investment Officer William Ma said the approval reflected the group’s compliance standards and its long-term view of Middle East capital markets. He said the firm aimed to connect the region with global opportunities, particularly China-focused investments, while supporting Abu Dhabi’s rise as a financial centre.
The move comes as Abu Dhabi continues to draw asset managers, private banks, hedge funds, digital-asset platforms and investment advisers seeking regulated access to Gulf wealth. ADGM ended 2025 with 12,671 active licences, a 30 per cent annual increase, while its workforce rose by more than half to 44,339. Assets under management within the financial centre grew 36 per cent, and the number of asset and fund managers reached 171, collectively overseeing 244 funds.
FSRA issued 120 in-principle approvals during 2025, up almost 32 per cent year-on-year, while 94 entities secured Financial Services Permissions. That pipeline underscores how Abu Dhabi has become a preferred jurisdiction for firms seeking an English common law framework, tax efficiency, access to sovereign capital and proximity to markets across Asia, Africa and Europe.
GROW’s application fits into a wider pattern of financial firms using Abu Dhabi as a regional base rather than a representative outpost. Subject to final approval, the company expects to provide customised onshore and offshore asset-management services, consulting support and access to Chinese capital markets and global multi-asset portfolios.
The firm began laying the groundwork for its Middle East expansion more than two years ago. Ma made several visits to the region to meet potential partners, assess the investment environment and participate in Abu Dhabi Finance Week, where asset allocation, China exposure and cross-border investment flows have become recurring themes.
GROW has also arranged client visits to Abu Dhabi and Dubai, including engagements with local institutions such as First Abu Dhabi Bank. Those efforts suggest the firm is seeking to build distribution and partnership channels before its formal launch, rather than entering the market solely through a regulatory filing.
Abu Dhabi’s appeal has strengthened as sovereign wealth funds, family offices and pension-linked investors allocate more capital across private markets, infrastructure, credit, hedge funds and Asian growth themes. Regional sovereign funds hold more than $3.5 trillion in combined assets, giving global managers an incentive to establish local teams and regulated platforms close to major allocators.
Competition, however, is intensifying. Global firms including KKR, UBS, Partners Group, Cantor Fitzgerald, HarbourVest, Fortress, DWS and Julius Baer have expanded or announced operations in ADGM, raising the bar for smaller and mid-sized managers seeking mandates. GROW’s China focus may help differentiate its offering, particularly as Gulf investors look for selective exposure to Asia amid shifting supply chains, technology competition and changing interest-rate expectations.
The approval relates to the firm’s application for a Financial Services Permission, a regulatory step that precedes full authorisation. Formal clearance is expected in the coming weeks, after which GROW plans to operate from ADGM and offer asset-management, advisory and investment-access services to regional institutional investors, family offices and high-net-worth clients.
GROW manages about $1.5 billion in global assets and is positioning its Abu Dhabi expansion as a bridge between Gulf capital and China-linked investment opportunities. Its shareholder base includes Lighthouse, a US hedge fund platform, and Bank Julius Baer, Switzerland’s second-largest private bank, giving the company an international ownership profile as it pursues growth outside Asia.
Founder and Global Chief Investment Officer William Ma said the approval reflected the group’s compliance standards and its long-term view of Middle East capital markets. He said the firm aimed to connect the region with global opportunities, particularly China-focused investments, while supporting Abu Dhabi’s rise as a financial centre.
The move comes as Abu Dhabi continues to draw asset managers, private banks, hedge funds, digital-asset platforms and investment advisers seeking regulated access to Gulf wealth. ADGM ended 2025 with 12,671 active licences, a 30 per cent annual increase, while its workforce rose by more than half to 44,339. Assets under management within the financial centre grew 36 per cent, and the number of asset and fund managers reached 171, collectively overseeing 244 funds.
FSRA issued 120 in-principle approvals during 2025, up almost 32 per cent year-on-year, while 94 entities secured Financial Services Permissions. That pipeline underscores how Abu Dhabi has become a preferred jurisdiction for firms seeking an English common law framework, tax efficiency, access to sovereign capital and proximity to markets across Asia, Africa and Europe.
GROW’s application fits into a wider pattern of financial firms using Abu Dhabi as a regional base rather than a representative outpost. Subject to final approval, the company expects to provide customised onshore and offshore asset-management services, consulting support and access to Chinese capital markets and global multi-asset portfolios.
The firm began laying the groundwork for its Middle East expansion more than two years ago. Ma made several visits to the region to meet potential partners, assess the investment environment and participate in Abu Dhabi Finance Week, where asset allocation, China exposure and cross-border investment flows have become recurring themes.
GROW has also arranged client visits to Abu Dhabi and Dubai, including engagements with local institutions such as First Abu Dhabi Bank. Those efforts suggest the firm is seeking to build distribution and partnership channels before its formal launch, rather than entering the market solely through a regulatory filing.
Abu Dhabi’s appeal has strengthened as sovereign wealth funds, family offices and pension-linked investors allocate more capital across private markets, infrastructure, credit, hedge funds and Asian growth themes. Regional sovereign funds hold more than $3.5 trillion in combined assets, giving global managers an incentive to establish local teams and regulated platforms close to major allocators.
Competition, however, is intensifying. Global firms including KKR, UBS, Partners Group, Cantor Fitzgerald, HarbourVest, Fortress, DWS and Julius Baer have expanded or announced operations in ADGM, raising the bar for smaller and mid-sized managers seeking mandates. GROW’s China focus may help differentiate its offering, particularly as Gulf investors look for selective exposure to Asia amid shifting supply chains, technology competition and changing interest-rate expectations.
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