Capital Group to Open First Middle East Office in Abu Dhabi
US-based Capital Group, one of the world’s largest active investment managers, has announced plans to establish its first office in the Middle East in Abu Dhabi Global Market (ADGM). The firm expects the office to open later this year, subject to regulatory approval.
The move is part of Capital Group’s wider global expansion strategy and highlights its long-term view of the Middle East, with the UAE positioned as a growing and established financial centre. The new office will also be supported by the Abu Dhabi Investment Office (ADIO).
Once operational, the Abu Dhabi location will become Capital Group’s 35th office worldwide. The company said it intends to expand its presence in the region gradually, aligning its growth with client demand and its long-term investment approach.
Ahmed Jasim Al Zaabi, Chairman of ADGM, said Capital Group’s decision reflects the appeal of the jurisdiction’s regulatory environment and institutional strength. He noted that investors value “regulatory certainty, strong institutions, and a stable environment for sustainable growth,” adding that ADGM is designed to support global firms operating at scale through a robust legal framework and access to long-term capital.
Mike Gitlin, President and CEO of Capital Group, said the company’s presence in Abu Dhabi will bring it closer to its business partners across the Middle East. He added that the move also signals the firm’s intention to explore further investments in the region, describing it as dynamic and strategically important.
Capital Group has appointed Benno Klingenberg-Timm, Head of Institutional for Europe and Asia, to lead the Abu Dhabi office in addition to his current responsibilities. The appointment suggests the company is taking a measured approach to its regional setup while maintaining leadership continuity across key international markets.
Industry Analysis
Capital Group’s decision to open in ADGM adds to Abu Dhabi’s growing profile as a destination for international financial institutions and asset managers. The choice of jurisdiction underscores the importance of regulatory clarity, market stability, and institutional support in attracting long-term foreign investment.
For the Middle East asset management landscape, the expansion may further strengthen the region’s position as a hub for global capital allocation. It also reflects a broader trend of financial firms establishing a physical presence closer to clients and partners in the Gulf, where demand for institutional investment services continues to deepen.
With the office still awaiting regulatory approval, the announcement marks an early but notable step in Capital Group’s regional growth strategy. Its gradual approach suggests the firm is prioritizing sustainable expansion over rapid market entry, which may resonate with investors seeking established global managers with a long-term commitment to the region.
