Australian asset manager AMP Capital has opened a representative office in Dubai, located within the Dubai International Financial Centre Authority.
It is led by institutional director Sudhanshu Garg, who will be responsible for introducing AMP Capital’s real assets capabilities to clients across the Gulf Cooperation Council (GCC).
A number of Middle East institutional investors have invested assets into AMP Capital’s infrastructure debt fund III, which reached final close in August 2017 after hitting the $2.5bn (€2.1bn) hard cap and gathering a further US$1.6bn (€1.36bn) in commitments.
Prior to joining AMP Capital, Garg was most recently managing a consultancy business in Dubai where he was advising on various investment product development, product structuring and managing external relationships.
Formerly, he held senior management roles at ABN Amro in Dubai and later as a senior vice president at Royal Bank of Scotland where he was head of Financial Institutional business for the Middle East.
Boe Pahari, Director, North West Region at AMP Capital, said: “As AMP Capital continues its global expansion strategy, it makes sense to have an on-the-ground presence in Dubai, which is the gateway to the Middle East and a potential high-growth market for us.
“AMP Capital has built strong relationships with clients in the GCC over many years and the appointment of Sudhanshu, with his strong financial services experience and excellent local networks, provides us the opportunity to further cement our presence in this important and fast-growing region.”
AMP Capital had A$178.9bn (€119.1bn) in assets under management as of 30 June 2017.