PGIM Secures Financial Services Permission from ADGM

PGIM, one of the leading global investment firms managing assets worth $1.33 trillion, on Thursday said that it has received Financial Services Permission (FSP) to operate in Abu Dhabi Global Market (ADGM).

PGIM, which opened a new office in the UAE’s capital located in the heart of the city’s financial district, is the global asset management business arm of the US-based Prudential Financial. The firm has deep asset class expertise and risk management discipline and has served clients in the Middle East for many years.

By starting its office in the UAE, PGIM has entered the Middle East region underscoring its commitment to serving institutional and professional clients in the region. PGIM is dedicated to providing innovative investment strategies and comprehensive client advisory services to regional investors, helping them navigate market complexities and achieve their financial goals.

PGIM offers active management and client-focused advisory services across private and public markets, meeting client needs in private alternatives (real estate, agriculture, private equity and private credit), fixed income, equities, multi-asset solutions, and retirement and fund solutions.

With a global team of more than 1,400 investment professionals, averaging 22 years of experience, across 41 offices in 19 countries, PGIM is bringing its wealth of expertise to one of the world’s most progressive financial centres in the Middle East.

Opportunities Aplenty

Unlocking ADGM’s Chief of Market Development Arvind Ramamurthy said that PGIM’s expansion into Abu Dhabi marked an important milestone in leveraging its unparalleled expertise and comprehensive range of services alongside ADGM’s robust ecosystem to unlock a wealth of investment opportunities in the region.

He also said that their role in driving growth and innovation in the region will strengthen ADGM’s position as a global financial powerhouse.

Mohammed Abdulmalek, recently appointed as head of the Middle East for PGIM and chairman of the newly established local entity, said that PGIM was well equipped to offer bespoke investment solutions that align with the region’s economic growth and transformation.

He added: “Abu Dhabi remains a key market for us, and the establishment of our new legal entity in ADGM emphasises our ongoing dedication to our presence in the UAE and our commitment to the Middle East. I look forward to leading PGIM’s efforts in delivering value to our clients and contributing to the financial landscape of the UAE.”

As a leading global asset manager, PGIM is built on a foundation of strength, stability, and disciplined risk management. Its multi-affiliate model allows us to deliver specialised expertise across key asset classes with a focused investment approach.

This gives PGIM’s clients a diversified suite of investment strategies and solutions with global depth and scale across public and private asset classes, including fixed income, equities, real estate, private credit, and other alternatives.