Tuesday, 26 July 2016
Last updated 2 hours ago
Sep 15 2009 | 9:07am ET
Hedge fund behemoth D.E. Shaw this week opened an office in Dubai, its first in the Middle East.
“As the fourth largest manager globally by hedge fund assets, the D. E. Shaw group is a highly respected global leader in its field of expertise and we are pleased that it has chosen to locate its regional base at the DIFC (Dubai International Financial Centre) which offers one of the best environments from which to do business in our region,” said Abdulla Al Awar, chief executive officer of the DIFC Authority.
Julius Gaudio, a member of the executive committee of D. E. Shaw & Co., added, “We have witnessed the Gulf region’s rise in prominence as a hub of commercial and financial activity, and we hope that establishing D. E. Shaw & Co. MENA, Ltd. will further advance our public and private investment activities in what has become a major capital market.”
The DIFC has been busy luring investment companies to the region. In the past four years, over 800 firms have registered at DIFC. Member institutions receive incentives such as 100% foreign ownership, zero tax on income and profits, and no restrictions on foreign exchange.