Oak Hill Advisors, the credit-focused asset manager with $59 billion in assets under management, is moving one of its Europe co-heads to Dubai. The firm is deepening its footprint in the Middle East as it seeks to capture more investor capital from the region.
Leadership Move
The Europe co-head, whose name has not been disclosed, will relocate to Dubai to lead the firm's expansion in the Middle East and Africa. The move underscores Oak Hill's commitment to growing its international business, particularly in regions with significant capital pools.
Strategic Expansion
Oak Hill Advisors, which is owned by Jefferies Financial Group, has been expanding its global presence. The firm already has offices in New York, London, and Singapore. The Dubai office will be its fourth international location, according to a person familiar with the matter.
The relocation is part of a broader trend among asset managers to establish a physical presence in Dubai, which has become a hub for wealth management and investment. The city offers tax advantages and a favorable regulatory environment for financial firms.
Impact on European Operations
The departure of the co-head from London is not expected to disrupt Oak Hill's European operations. The firm has a strong team in place, and the remaining co-head will continue to oversee the region from London. Oak Hill's European business has been growing, with the firm recently hiring several senior professionals in the region.
According to a source familiar with the firm's strategy, the move is purely about expanding into new markets rather than downsizing in Europe. Oak Hill sees significant opportunities in the Middle East, particularly from sovereign wealth funds and family offices.
Dubai's Growing Appeal
Dubai has increasingly become a destination for financial firms looking to tap into wealth from the Middle East, Asia, and Africa. The Dubai International Financial Centre (DIFC) has attracted numerous asset managers, hedge funds, and private equity firms in recent years. Oak Hill's move adds to this trend, with other firms such as BlueBay Asset Management and GAM Investments also expanding their Dubai offices.
The relocation is expected to be completed by the end of the year, subject to regulatory approvals. Oak Hill Advisors declined to comment on the move.
