UAE – Mubasher: Leon Black has established a new branch of his family office, Elysium Management, at Abu Dhabi Global Market (ADGM), according to a press release.
The new office, Scimitar, will serve as Elysium's first international office. Scimitar has hired a team of seasoned professionals, including Abu Dhabi-based financier Asad Hussaini. Hussaini, alongside Black’s son Ben, will build out the credit platform Fortinbras.
Leon Black is the esteemed founder of Apollo Global Management and a leading figure in private equity with a net worth above $14 billion.
This strategic move highlighted Black’s ties with the region, cultivated more than 30 years through his leadership at Apollo, a global alternative asset manager with nearly $700 billion under management.
Black commented on the inauguration: “I have long admired and respected the people of Abu Dhabi who are at the core of driving the development of UAE and the entire Gulf Region.”
“My family office wants to be a part of that transformation and, more importantly, be an active member of this community. Having an office with local executives leading it is critical to our strategy and demonstrates our commitment,” he added.
ADGM, the International Financial Centre of Abu Dhabi, stated: " The establishment of the first international office for Elysium highlights Abu Dhabi as the destination of choice for global entities to grow their businesses and expand within the MEASA region and beyond."
