Paladin Capital has been licensed by the Dubai Financial Services Authority to operate as an authorized firm in the Dubai International Financial Centre. The firm’s objective is to launch a variety of private equity funds tailored to the region’s markets that will help promote growth and job creation.
Paladin Capital (Middle East) Limited today announced that it has been licensed by the Dubai Financial Services Authority (“DFSA”) to operate as an authorized firm in the Dubai International Financial Centre (“DIFC”).
“We are excited to receive this license from the DFSA for our office in the DIFC as it underscores our commitment to be a ‘best-in-class’ private equity firm in the Middle East,” said Mr. Michael Steed, Founder and Managing Partner of Paladin Capital Group and Chairman of Paladin Capital (Middle East) Limited. “We have ambitious plans for growth in the region and we strongly believe that by operating within the realm of an elite regulator, we gain a platform that allows us to serve a wide audience of regional investors.”
The move comes at an important time for the promising Middle East and North Africa (MENA) region, according to Kevin Birkett, Head of Financial Services at DIFC Authority.
“Despite the changing political and social scene in the MENA region, the long-term outlook for the private equity sector remains positive due the region’s robust macroeconomic fundamentals,” Birkett said. “By providing a world-class legal and regulatory framework and continuously updating its fund legislation, DIFC offers a secure and productive platform for private equity firms, like Paladin Capital (Middle East) Limited, to take advantage of the opportunities in this sector.”
Paladin Capital (Middle East) Limited’s objective is to launch a variety of private equity funds tailored to the region’s markets that will help promote growth and job creation.
Paladin Capital Group boasts of a long and distinguished track record on behalf of MENA investors. Most recently, Paladin Capital Group announced that Mubadala Development Company, the Abu Dhabi based strategic investment and development company, has partnered with it to invest in Damballa, a pioneer in the fight against cybercrime. Damballa provides the only network security solution that detects the remote control communication that criminals use to breach networks to steal personal and intellectual information, and conduct espionage or other fraudulent transactions.
About Paladin Capital Group
Paladin Capital Group is a leading multi-stage private equity firm with offices in Washington, D.C., New York, New York and Dubai, UAE that provides funding to growing companies. Across the globe, from Silicon Valley to Brazil, Paladin invests in “best-of-breed” companies with technologies, products, and services that meet the challenging demands of commercial, federal, and international customers. Paladin is comprised of individuals with a proven track record of financial expertise, national security experience and specialized technical competence. Collectively, Paladin’s investment professionals have completed over 125 direct and co-investments transactions in a wide range of industries. Paladin has approximately USD 1 billion of committed and invested capital across multiple funds and has invested in over 50 portfolio companies.
For further information, visit: http://www.paladincapgroup.com
About the DIFC
The Dubai International Financial Centre (DIFC) is the financial and business hub connecting the region’s emerging markets with the developed markets of Europe, Asia and the Americas.
Since its launch in 2004, DIFC, a purposely built financial free-zone, has been committed to encouraging economic growth and development in the region through its strong financial and business infrastructure. Currently, DIFC’s client base comprises over 800 active registered firms, including 18 of the top 25 global banks, 8 of the largest global asset managers, 7 of the 10 largest insurers and 6 of the top 10 law firms in the world. More than 11 thousand employees operate in an open environment complemented by international legal and regulatory standards. DIFC offers its member companies benefits such as 100 percent foreign ownership, zero percent tax rate, with no restriction on capital convertibility or profit repatriation. DIFC has its own independent financial and ancillary services regulatory body, the Dubai Financial Services Authority (DFSA). It also has the DIFC Courts, which is an independent common law judiciary based in DIFC with jurisdiction over civil and commercial disputes in or relating to the Centre.
DIFC is built upon a modern legal, regulatory and physical infrastructure which makes it the destination of choice for Financial Services firms establishing a presence in the region.