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Investing.com -- Starwood Capital Group LLC has received approval to operate from the Dubai International Financial Centre (DIFC), Bloomberg reports, joining other alternative asset managers expanding in the region.
Starwood Capital (DIFC) Limited was authorized on October 17, according to a document seen by Bloomberg News. The firm is now hiring staff in the region and may consider deploying capital there.
The company manages more than $120 billion in assets, employs 7,000 people, and maintains 18 offices worldwide. Outside the United States, Starwood currently operates from Amsterdam, Hong Kong, London, Luxembourg, Seoul, Singapore, Sydney, and Tokyo, but had no presence in the Gulf region until now.
The Gulf region represents an important source of capital for major alternative asset managers, with the UAE’s numerous sovereign wealth funds and high-net-worth investors ranking among their largest investors.
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