Today's Edition
ABU DHABI (ALETIHAD)
Primrose Capital Management has received a Financial Services Permission (FSP) from the Financial Services Regulatory Authority of ADGM, marking a key milestone in the quantitative asset manager’s strategy to expand its presence in the Middle East and strengthen investment linkages between Asia and the Gulf.
The regulatory authorisation follows the firm’s In-Principle Approval earlier and allows Primrose to operate as a fully licensed entity within ADGM’s international financial centre framework. The approval was granted by the Financial Services Regulatory Authority (FSRA).
Primrose Capital Management specialises in model-driven investment strategies that combine quantitative research with discretionary insights across traditional and digital asset classes. The firm said the FSP positions it to scale its institutional-grade offerings across the Middle East and North Africa, amid growing regional demand for transparent and risk-managed quantitative strategies.
Since receiving its initial approval in mid-2025, Primrose Capital Management has expanded its operational footprint in Abu Dhabi. This has included hiring portfolio management, risk management and client coverage professionals, as well as establishing a local research capability aimed at adapting its strategies to regional liquidity and market conditions.
According to the firm, interest from Gulf-based allocators —particularly sovereign investors, institutional funds and family offices — has been rising, driven by a shift toward systematic, multi-asset investment solutions. Family offices across the GCC are estimated to oversee more than $500 billion in assets, increasing demand for diversified and governance-aligned strategies spanning global futures, options and digital asset derivatives.
Linus Ong, Chief Investment Officer at Primrose Capital Management, said the FSP reflects the firm’s governance standards and long-term commitment to the region. He noted that ADGM has established a regulatory environment designed to support both traditional financial markets and digital asset innovation, enabling deeper engagement with the Middle East’s institutional investor base.
With the licence secured, Primrose plans to launch MENA-domiciled feeder funds, providing regional investors with access to its Global Multi-Strategy and Digital Options programmes. The firm said these structures will facilitate closer integration between Asian liquidity pools and Gulf capital, reinforcing the investment corridor linking Singapore and Abu Dhabi.
Primrose said it will continue to expand its local research, technology and hiring efforts in 2026, while building long-term partnerships within ADGM and the wider UAE financial ecosystem.
