Abu Dhabi: Kimmeridge, an alternative asset manager with a focus on the energy sector, has announced the inauguration of its new office in the Abu Dhabi Global Market (ADGM), marking its strategic entry into the Middle East market. The New York-headquartered firm, which also has offices in Denver and London, aims to enhance its role as a bridge for energy investments between the United States, the United Arab Emirates, and the broader region.
According to Emirates News Agency, the launch of Kimmeridge's office in ADGM is part of its strategy to capitalize on investment opportunities in the Middle East and Asia, while strengthening relationships with regional institutions and partners. The firm's new office will serve as a base for its investment teams. As part of the expansion, Kimmeridge signed a memorandum of understanding (MOU) with Mubadala Energy, focusing on collaboration in natural gas and LNG investments.
The MOU comes after Mubadala Energy's recent acquisition of a minority stake in Kimmeridge's SoTex HoldCo LLC, marking the company's first significant investment in the US energy sector. Ben Dell, Co-Founder and Managing Partner of Kimmeridge, emphasized the importance of the new ADGM office and partnership with Mubadala Energy in leveraging opportunities across the evolving energy landscape.
Mansoor Mohamed Al Hamed, Managing Director and CEO of Mubadala Energy, expressed satisfaction over the MOU, noting that it lays the groundwork for future collaboration in the gas value chain. Al Hamed highlighted the shared ambition for growth between the two companies and the potential for generating new, strategic opportunities.
The Middle East operations of Kimmeridge will be led by Fay§al Benjelloun, who will serve as Managing Director and Head of Middle East, as well as Senior Executive Officer. Benjelloun, who previously worked with Mubadala Capital, brings significant experience and a robust network to the role, enhancing Kimmeridge's capability to meet regional demand for energy assets.
Kimmeridge's ADGM office has received a category 4 licence from the Financial Services Regulatory Authority (FSRA) of ADGM, allowing it to advise and arrange transactions and investments. The firm's presence in one of the world's largest international financial centers is expected to benefit regional investors and align with the UAE's energy strategy.
Arvind Ramamurthy, Chief of Market Development at ADGM, welcomed Kimmeridge to the financial hub, noting the conducive environment ADGM offers for alternative investment entities. Ramamurthy expressed optimism about the contributions Kimmeridge will bring to Abu Dhabi's asset management community and regional partners.