ADGM says AI-focused assets now exceed $100B, led by MGX
ADGM says entities licensed there now hold more than $100B in AI-focused investment. MGX closed its first fund in July at $49B. ADGM headcount rose 34% to 50,000 and AUM rose 54% YoY.
Abu Dhabi’s financial hub ADGM said entities licensed there now hold more than $100 billion in AI-focused investment, as it seeks to attract more fund managers with access to the UAE capital’s cash pools and focus on cutting-edge technology. ADGM said Abu Dhabi tech vehicle MGX, which closed its first fund in July at $49 billion, is the largest such vehicle. The white-collar worker hub grew 34% to around a headcount of 50000, while assets under management rose 54% year on year. Bain Capital, Blue Owl Capital and Man Group are among the firms that have expanded in the financial center so far this year.
3 billion).