The roundtable, which took place in July 2022, was led and moderated by Mark Pedretti, Reed Smith’s global chair of private equity and executive committee member, and featured Salmaan Jaffery, chief business development officer and Ali Hassan, senior representative for Europe and North America of the DIFC Authority (DIFCA). Speakers and invited guests explored areas including capital raising and portfolio management opportunities for asset managers; an overview of fund formation and regulation in DIFC; and developments in the digital asset framework, including the pending DIFCA crypto regulation CP 143.
The roundtable was held at a time when demand for asset management solutions in the MEASA region is experiencing significant growth. According to a Boston Consulting Group report released in May 2022, assets under management (AuM) in MEASA grew faster than the global average, rising by 16 per cent in the Middle East to $1.2 trillion (Dh4.4 trillion) in 2021, a considerable increase above the 10-year growth average. The report found that the global AuM grew at 12% last year to more than $112 trillion, a growth rate well above the seven per cent average of the previous 20 years.
This trend was further illustrated by Jaffery, who highlighted that DIFC is home to more than 200 wealth & asset management companies, making it the region’s largest and most influential community for the sector.
The Reed Smith / DIFC roundtable is part of series hosted by the DIFC in several U.S. cities with existing and prospective clients across a wide range of businesses in the financial services sector, including investment banks, asset management firms, insurance companies and private equity firms.
About Reed Smith
Reed Smith is a dynamic international law firm dedicated to helping clients move their businesses forward. With an inclusive culture and innovative mindset, we deliver smarter, more creative legal services that drive better outcomes for our clients. Our deep industry knowledge, long-standing relationships and collaborative structure make us the go-to partner for complex disputes, transactions, and regulatory matters.
For more information, please visit www.reedsmith.com.
About Dubai International Financial Centre
Dubai International Financial Centre (DIFC) is one of the world’s most advanced financial centres, and the leading financial hub for the Middle East, Africa and South Asia (MEASA), which comprises 72 countries with an approximate population of 3 billion and an estimated GDP of USD 7.7 trillion.
With an 18-year track record of facilitating trade and investment flows across the MEASA region, the Centre connects these fast-growing markets with the economies of Asia, Europe and the Americas through Dubai.
DIFC is home to an internationally recognised, independent regulator and a proven judicial system with an English common law framework, as well as the region’s largest financial ecosystem of almost 30,000 professionals working across over 3,600 active registered companies – making up the largest and most diverse pool of industry talent in the region.
The Centre’s vision is to drive the future of finance through cutting-edge technology, innovation, and partnerships. Today, it is the global future of finance and innovation hub offering one of the region’s most comprehensive FinTech and venture capital environments, including cost-effective licensing solutions, fit-for-purpose regulation, innovative accelerator programmes, and funding for growth-stage start-ups.
Comprising a variety of world-renowned retail and dining venues, a dynamic art and culture scene, residential apartments, hotels and public spaces, DIFC continues to be one of Dubai’s most sought-after business and lifestyle destinations.
For further information, please visit our website at difc.ae, or follow us on LinkedIn and Twitter @DIFC.