ADGM Square
ADGM already hosts Tribe Infrastructure while Florin Court will be a new entrant. Both specialist financial services firms are now part of ADIO's Innovation Programme. Image Credit: Supplied

Dubai: Abu Dhabi Investment Office (ADIO) has enlisted two more companies - Florin Court Capital and Tribe Infrastructure Group – into Dh2 billion Innovation Programme. This will help both financial services focussed businesses to expand their market reach from their bases in Abu Dhabi.

“The rapid pace of development in Abu Dhabi’s booming financial services sector gives rise to novel opportunities and creates access for existing and new players in the market,” said Dr. Tariq Bin Hendi, Director-General of ADIO. “The emirate has emerged as a global financial hub, a position that is set to strengthen with the introduction of Florin Court and Tribe’s global expansion.”

Florin Court will establish its new trading, research and operations hub at Abu Dhabi Global Market (ADGM), while Tribe is already based there.

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A hedge fund manager specialising in the quantitative trading of alternative markets, Florin Court was established in London, as part of Brummer & Partners. Since inception in 2017, it has returned 44 per cent to institutional investors by using mathematical trading systems on 350 markets as diverse as electricity and emissions, emerging market interest rates, Chinese commodities, and emerging market and digital currencies.

The firm will also establish a global internship programme and an academic engagement programme in mathematics, statistics, machine learning and finance.

A financial advisor, Tribe was founded in the UAE in 2011 and headquartered out of ADGM since 2016. It delivers infrastructure project finance solutions for both governments and the private sector.

The ADIO partnership will enable Tribe to expand its existing financial advisory team and assist with the launch of its recently established funds management offering. It will engage with Abu Dhabi’s local talent through training courses and overseas secondments, and educate investors on the progress of the infrastructure and public-private partnership (PPP) project landscape in the emirate.