North of South Capital (NoSC), a London-based asset manager with more than US$2 billion in assets under management, has announced plans to open an office in Dubai.
The new business is set to launch in the Dubai International Financial Centre (DIFC) in August and will be the firm’s first office in the region.
NoSC joins a growing number of firms to have set up shop in the Middle East, and Dubai specifically, in recent months.
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This includes several hedge funds such as Qube Research and Technologies and BlueCrest Capital as well as global asset managers like Brookfield Asset Management, State Street Global Advisors and Barings.
The announcement from NoSC coincides with the DIFC’s latest report on numbers which showed that the number of asset and wealth managers has surpassed 370.
“Large pools of wealth embedded in sovereign funds, family offices, and via ultra-high-net-worth individuals, coupled with the stability and success of DIFC’s 20-year track record, continue to draw in the world’s best investment managers ranging from traditional to alternative managers,” said Arif Amiri, chief executive of DIFC.
