Dymon Asia Capital Expands to Dubai: A New Hedge Fund Hub

Dymon Asia Capital, a multi-strategy hedge fund from Singapore, has opened its Dubai office, marking its ninth global location. This move positions Dymon to leverage the Middle East's advantageous time zone and talent pool for investment. The region's tax-free, business-friendly environment has attracted numerous hedge funds and investment professionals.

Singapore's Dymon Asia Capital has expanded into the Middle East with the opening of its first office in Dubai. The move aims to leverage the region's advantageous time zone and attract investment talent, according to the hedge fund manager.

The Dubai office, which opened in November, is the ninth globally for the $3 billion multi-strategy fund, following a 3A license secured from the Dubai Financial Services Authority. The shift reflects a broader trend, as other hedge funds like Balyasny Asset Management and ExodusPoint Capital Management establish operations in the Middle East, drawn by its tax-free status and business-friendly climate.

Dubai has developed a significant talent pool, drawing finance professionals from Europe and the UK. The city's time zone allows portfolio managers to trade Asian, European, and U.S. markets within regular hours, explained Kenneth Kan, deputy CEO at Dymon Asia. The Dubai International Financial Centre notes that 40 hedge funds managing over $720 billion have set up shop there by May. Dymon's flagship fund reported a 13.4% gain this year, primarily through Asia-focused strategies.

(With inputs from agencies.)