General Atlantic Bets Bigger on Gulf With New Abu Dhabi Office
Tuesday, Dec 10, 2024 2:02 am ET
AAME --
FISI --
General Atlantic, a prominent global growth equity firm, has announced its expansion into Abu Dhabi, opening a new office in the United Arab Emirates' capital. This strategic move comes on the heels of the company's recent establishment of a presence in Riyadh, Saudi Arabia, and signals a growing commitment to the Gulf region. With approximately $100 billion in assets under management, General Atlantic's new office in Abu Dhabi will focus on accelerating growth in the region, particularly in technology, consumer, financial services, healthcare, and climate sectors.
The Middle East and North Africa (MENA) region presents attractive opportunities for General Atlantic, with economies expected to grow by about 4% in 2025 and 2026. The region's digital economy is also projected to increase by $140 billion by 2031, further bolstering the case for investment. General Atlantic's expansion into Abu Dhabi aligns with the UAE's digital transformation efforts, which aim to double the contribution of the digital economy to the UAE's non-oil GDP by 2031.
General Atlantic's new office in Abu Dhabi will enable the firm to form partnerships and engage with local companies more effectively, building on its existing investments in the region. The company has already invested over $1 billion in regional companies such as eyewa, Insider, Property Finder, and Trendyol. This expansion is a strategic move to capitalize on the region's growth prospects and accelerate General Atlantic's growth in the Middle East.
The Gulf region's fast-growing economies and attractive opportunities have drawn global financial institutions, asset managers, and international funds to set up bases in Abu Dhabi. As General Atlantic continues to invest in the MENA region, its commitment to the area's growth prospects is evident. The firm's new office in Abu Dhabi will contribute to its overall global growth strategy, focusing on key sectors and industries in the region.

In conclusion, General Atlantic's expansion into Abu Dhabi reflects the firm's confidence in the Gulf's investment potential. With a focus on accelerating growth in the region's key sectors, the new office will contribute to the firm's overall global growth strategy. As the Middle East and North Africa region continues to grow and digitalize, General Atlantic's commitment to the area's growth prospects is evident.