NEW YORK – Global law firm Reed Smith, along with Dubai International Financial Centre (DIFC), the leading financial hub for the Middle East, Africa, and South Asia (MEASA), recently held a, instructive and informative roundtable to discuss the benefits of establishing a presence in DIFC for asset managers and digital asset companies.

Avocats associés à cet article: Mark G. Pedretti

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.