Pantheon opened its first Abu Dhabi office at Abu Dhabi Global Market (ADGM) as international financial firms continue to establish bases in the Gulf despite missile and drone attacks from Tehran during the seven-month Iran war. The London-headquartered private markets firm said the office will support its engagement with investors across the region.
The UAE and other Gulf and wider Middle Eastern countries initially faced waves of missile and drone attacks after the conflict broke out on February 28. The report said the war hasn’t deterred international financial firms from establishing operational bases in Abu Dhabi.
Capital and regional expansion
Pantheon manages about $84 billion in assets under management. Its Abu Dhabi office brings its global footprint to 13 locations across four continents.
The firm appointed Firas Mallah, formerly of investment firm Sagard, as managing director and head of the Middle East. Mallah will lead Pantheon’s capital formation efforts with sovereign wealth funds, family offices and financial institutions across the region, the company said.
Regional investors increasingly seek exposure to private equity, infrastructure and private credit. “The Middle East is one of the fastest-growing sources of capital in private markets, and investors here are increasingly sophisticated about how they want exposure to the asset class,” Mallah said.
“Establishing our presence in ADGM reflects our strong commitment to the region as we deepen our long-term engagement across the wider GCC,” he said. Pantheon said its dedicated Abu Dhabi office would help deepen relationships with investors across Gulf countries and strengthen its regional presence.
An Abu Dhabi base offers global investors and money managers opportunities to expand regional operations and work with some of the world’s largest sovereign wealth funds, large family offices and institutional partners.
Financial centre draws firms during conflict
ADGM has developed its asset management and private markets ecosystem. The financial centre is the largest international financial centre in the Middle East and Africa region by the number of active licences, the report said.
Asset managers that set up operations in ADGM in the first half of 2026 collectively oversee more than $2.1 trillion in global assets under management, the financial centre said earlier this month. ADGM assets under management grew 54 per cent annually in the first six months of 2026.
The report said 49,027 professionals worked at Al Maryah Island and Al Reem Island, an increase of 34 per cent on the same period last year. Arvind Ramamurthy, chief market development officer at ADGM, said Pantheon’s decision to establish its Middle East presence in Abu Dhabi reflected the financial centre’s appeal to global private market firms seeking to engage with institutional investors in the region.
Companies recently drawn to the UAE capital include private credit lender Blue Owl Capital, US private equity company Vista Equity Partners, Man Group, Barings, Bain Capital, Cantor and Swiss derivative investment company Adapt Investment Managers.
Europe’s largest private markets investment firm EQT was the most recent firm to establish a base in ADGM before Pantheon. EQT manages $389 billion in client assets and said last week that it would use Abu Dhabi as the base for a new Middle East platform while seeking investment opportunities across the Gulf.
Pantheon’s investment strategies
Pantheon said its secondaries strategies are particularly relevant to investors seeking access to mature portfolios while reducing some risks linked to investing in newly established funds. The firm pioneered private equity secondaries in 1988 and has since expanded into private credit and infrastructure secondaries.
Secondaries let investors acquire existing stakes in private market funds or assets. They can potentially provide earlier distributions and reduce the so-called J-curve associated with traditional private market investments.