Elysium Management Sets Up First Overseas Office At Abu Dhabi Global Market

Abu Dhabi Global Market (ADGM) has announced that Leon Black, the founder of Apollo Global Management, has opened a new branch of his family office, Elysium Management, at ADGM. This new branch, named Scimitar, marks Elysium's first international office. The team includes experienced professionals like Abu Dhabi-based financier Asad Hussaini and Black’s son Ben, who will develop the credit platform Fortinbras.

ADGM expressed enthusiasm about this development. In a statement, they said, "We are delighted to welcome Leon Black and Elysium Management to ADGM. Black brings with him a wealth of experience and an unwavering commitment to excellence, further contributing to our thriving ecosystem. This move not only reflects the deep ties between Black and the region but also underscores the importance of ADGM as a strategic base for leading global family offices. The establishment of the first international office for Elysium highlights Abu Dhabi as the destination of choice for global entities to grow their businesses and expand within the MEASA region and beyond."

Black has been visiting Abu Dhabi for over 30 years and has developed strong connections in the region through his leadership at Apollo, which manages nearly $700 billion in assets. He is known for his financial expertise as well as his philanthropic efforts and art collection. Reflecting on his relationship with Abu Dhabi, Black stated, "I have long admired and respected the people of Abu Dhabi who are at the core of driving the development of the UAE and the entire Gulf Region. I have been coming here for more than 30 years and the growth and prosperity that has occurred under Abu Dhabi’s visionary leadership is truly remarkable. My family office wants to be a part of that transformation and, more importantly, be an active member of this community. Having an office with local executives leading it is critical to our strategy and demonstrates our commitment."

Implications for Elysium Management

The establishment of Scimitar at ADGM signifies a significant step in Elysium Management’s global expansion plans. With its seasoned team and strategic leadership, this move positions Elysium at one of the world's most influential financial centres.

This decision by Leon Black highlights his growing commitment to deepening ties within the region. It also underscores ADGM's role as a strategic hub for leading global family offices looking to expand their operations in the Middle East, Africa, and South Asia (MEASA) region.

The presence of local executives like Asad Hussaini in key roles demonstrates Elysium’s dedication to integrating into the local business environment. This approach aligns with their broader strategy of becoming active members of the communities where they operate.

The move by Leon Black's family office into ADGM reflects both personal admiration for Abu Dhabi's development and a strategic business decision aimed at leveraging opportunities within one of the world's premier financial hubs.

With inputs from WAM