From a penthouse overlooking the Persian Gulf, one of the world’s biggest hedge fund fortunes is feeling increasingly at home.
Ray Dalio’s purchase of a luxury beachside residence on Abu Dhabi’s Saadiyat Island is part of a Middle Eastern outpost that also includes a branch of his family office in the city’s financial district, according to people with knowledge of the matter. His growing footprint is emblematic of the changes that have turned the United Arab Emirates into an important hub for traders. The past couple of years have seen highly paid professionals from more than 100 firms arrive, an influx that’s rippling through the nation.
Source: Bloomberg
