Stonepeak, a $71.2 billion alternative investment firm, is establishing a presence in Abu Dhabi, marking the latest entry into the UAE's capital. The firm has received approvals to arrange and advise on investments in the UAE and will set up its operations in the Abu Dhabi Global Market, the emirate’s financial hub. This move follows PGIM's recent expansion into the city, further cementing Abu Dhabi's growing appeal to global investment firms.

The emirate, which holds 6% of the world's proven oil reserves and is home to sovereign wealth funds managing $1.5 trillion in assets, continues to attract high-profile investors like hedge funds, venture capital firms, and billionaires such as Ray Dalio. Stonepeak, known for its expertise in infrastructure and real estate, joins a growing list of firms looking to tap into the region’s wealth and strategic positioning.