ABU DHABI (ALETIHAD)

GROW Investment Group has secured in-principle approval (IPA) from the Financial Services Regulatory Authority of Abu Dhabi Global Market (ADGM), marking a key step in its Middle East expansion, according to a statement.

The Chinese global asset manager, which oversees about $1.5 billion in assets, said the approval relates to its application for a Financial Services Permission and that it expects formal authorisation in the coming weeks.

The company said the move reflects its long-term confidence in the region’s capital markets, citing strong fundamentals including deep pools of sovereign capital, a robust regulatory environment and Abu Dhabi’s strategic position as a global financial hub.

Sovereign wealth funds in the region hold more than $3.5 trillion in combined assets, providing a stable base of long-term institutional capital, while Abu Dhabi’s regulatory framework—based on the direct application of English common law—along with zero-tax incentives and seamless capital mobility, continues to attract global financial institutions, the statement said.

Subject to final approval, GROW Investment Group plans to establish an office in ADGM to provide customised onshore and offshore asset management and consulting services, as well as solutions enabling access to Chinese capital markets and global multi-asset portfolios for regional institutional investors, family offices, and high-net-worth individuals.

William Ma, Founder and Global CIO of GROW Investment Group, said: “The IPA from ADGM’s FSRA confirms GROW Investment Group’s compliance standards and long-term vision for the Middle East. Despite short-term market uncertainties, the region’s core strengths remain intact. We will act as a long-term partner, facilitating connections between the Middle East and global (especially Chinese) investment opportunities, and supporting Abu Dhabi’s development as a top global financial center.”

Arvind Ramamurthy, Chief of Market Development at ADGM, said: “We congratulate GROW Investment Group on receiving the (IPA) from the FSRA. This milestone reflects the strength and efficiency of ADGM’s regulatory framework and our continued ability to attract leading global financial institutions. As firms scale their operations from Abu Dhabi, ADGM remains focused on enabling long-term, sustainable growth through a dynamic ecosystem, deep pools of capital and strong cross-border connectivity.”

The company said its expansion strategy has been under way for more than two years, with senior leadership conducting on-ground research, building partnerships and engaging with regional institutions. It has also participated in key industry events, and facilitated client engagement with local financial institutions to deepen cooperation.

GROW Investment Group’s shareholders include US-based hedge fund Lighthouse and Switzerland’s private bank Julius Baer, underscoring its global investor base.