Granted Category 3C License in ADGM
November 27, 2023 11:00 PM Eastern Standard Time
ABU DHABI, United Arab Emirates–(BUSINESS WIRE)–Vibrant Capital Partners (“Vibrant” or the “Firm”), a leading alternative credit investment manager with approximately USD8 billion in assets under management, today announced the opening of its office at Abu Dhabi Global Market (“ADGM”), the international financial centre of the capital of the United Arab Emirates (“UAE”).
Vibrant, through its wholly-owned affiliate, Vibrant Capital Partners International Ltd, has been granted a Financial Services Permission from ADGM’s Financial Services Regulatory Authority to conduct Regulated Activities under prudential Category 3C. The license enables Vibrant to manage a collective investment fund, advise on investments or credit and arrange deals in investments.
The ADGM office will serve as Vibrant’s international headquarters and reaffirms the Firm’s commitment to the UAE and broader Middle East region. The office is led by Volkan Kurtas, Vibrant’s Founder and Chief Investment Officer, and Alex Nerguizian, Managing Director, who will serve as Senior Executive Officer of the ADGM office. Messrs. Kurtas and Nerguizian will draw upon the deep experience, track record, and resources that the Vibrant team has developed since its inception in 2006.
Mr. Kurtas said, “We are thrilled to establish our presence at ADGM, which is the ideal base for Vibrant to lead our international expansion plans. Moreover, over the course of two decades, we have witnessed CLOs and other securitized credit products grow from niche asset classes into critical capital market sectors. We are excited by the opportunity to apply our deep expertise and access in structured credit to help build a robust securitization ecosystem out of ADGM. We believe this would be to the benefit of financial markets in Abu Dhabi, the UAE, and the region at large for years to come.”
Mr. Nerguizian added, “The UAE and broader GCC are home to some of the world’s most sophisticated institutional investors, and, as someone who was born and raised in the UAE, it is gratifying to see the region playing such a pivotal role in global financial markets. ADGM has cemented itself as a preferred destination for asset managers thanks to its dynamic business environment and solid legal framework. The opening of Vibrant’s international headquarters at ADGM is a significant milestone as we continue to expand our capabilities to best meet the evolving needs of existing and new clients and counterparties.”
Arvind Ramamurthy, Chief of Market Development at ADGM, said, “We welcome Vibrant Capital Partners to ADGM’s ecosystem. We are confident that ADGM’s dynamic ecosystem and progressive regulations will fortify Vibrant Capital Partners’ vision, supporting them in adding value to the region’s financial markets, and contributing to the continuous development of Abu Dhabi’s buzzing financial landscape and its strategic value to global finance. We look forward to witnessing the positive impact of Vibrant Capital Partners’ expertise in contributing to the growth and development of the financial ecosystem in Abu Dhabi and beyond.”
About Vibrant Capital Partners
Founded in 2006, Vibrant Capital Partners is a leading New York-based alternative credit investment management firm. The firm is majority employee-owned and manages approximately USD8 billion in structured and corporate credit assets as of October 2023. The firm serves institutional investors including pensions, family offices and insurance companies globally. For more information, please visit www.vibrantcapitalpartners.com.
About Abu Dhabi Global Market (ADGM)
Abu Dhabi Global Market (ADGM) is the international financial centre (IFC) of the capital city of the United Arab Emirates, which opened for business on 21st October 2015. ADGM augments Abu Dhabi’s position as a leading financial centre and a business hub serving as a strategic link between the growing economies of the Middle East, Africa and South Asia and the rest of the world.
Operating within an international regulatory framework based on direct application of The English Common Law, ADGM governs the entire Al Maryah Island and Al Reem Island which is designated as the financial free zone of Abu Dhabi.
ADGM is ranked as one of the most preferred top IFCs in the Middle East and Africa region and named MENA’s largest Fintech hub. Its progressive and inclusive business ecosystem gravitates toward global financial and non-financial institutions while leveraging synergies between ADGM and multiple jurisdictions positioned as one of the world’s most advanced, diverse and progressively governed financial hubs.
For more details on ADGM, please visit www.adgm.com or follow us on Twitter and Instagram: @adglobalmarket and LinkedIn: @Abu Dhabi Global Market (ADGM)
Contacts
Media
For Vibrant:
Amanda Shpiner/Sam Fisher
Gasthalter & Co.
+1 (212) 257-4170
[email protected]
For ADGM:
Kaja Mohesen, [email protected]
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