Key Takeaways
- • Secondary transactions involving private assets reached a record $121 billion in the first half of 2026, according to Evercore, drawing global asset managers to establish offices in Abu Dhabi.
- • EQT, Pantheon and Eurazeo opened Abu Dhabi offices since mid-September 2026, joining Ardian and HarbourVest Partners, which had already established a presence there.
- • Pantheon's latest flagship global private equity secondaries fund exceeded its target, securing $6 billion in commitments with substantial support from new Middle East investors.
- • Ardian raised $30 billion last year for what was the largest-ever secondary investment platform and has partnered with ADIA on a secondary real estate platform.
- • ADIC plans to deploy up to $10 billion over the next three years, while ADIA is recalibrating its private equity strategy amid a slowdown in traditional IPO exit routes.
Summary
Abu Dhabi is consolidating its position as a global "Capital of Capital," according to Gulf News, which cites a Bloomberg report that a growing number of international investment firms are establishing a presence in the emirate. The trend is tied to the secondary market for private assets, which is expanding rapidly and is expected to reach $250 billion in value this year. Secondary transactions involving private assets reached a record $121 billion in the first half of 2026, according to Evercore.
Since mid-September, EQT, Pantheon and Eurazeo have opened offices in Abu Dhabi, joining Ardian and HarbourVest Partners. These firms are seeking to expand partnerships with sovereign wealth funds, co-invest alongside them and acquire stakes in companies within their portfolios. Drivers include a slowdown in traditional exit routes, particularly IPOs, which has pushed institutional investors toward secondary markets to sell stakes and unlock liquidity, as well as higher interest rates that have made asset sales more difficult. Sovereign wealth funds are also using secondaries to rebalance portfolios across technology, artificial intelligence, real estate and private equity. The article also credits the regulatory framework of Abu Dhabi Global Market (ADGM), which is based on English common law, with providing legal certainty and investor protection.
Ardian raised $30 billion last year for what was the largest-ever secondary investment platform. Yassine Zarrouk, Managing Director and Co-Head of Ardian Abu Dhabi, told Bloomberg the firm's scale makes it a natural partner for large transactions and liquidity solutions for local investors. Ardian has partnered with the Abu Dhabi Investment Authority (ADIA), which manages $1.1 trillion in assets, to launch a secondary real estate platform, and maintains partnerships with Mubadala Investment Company.
Pantheon, which opened its Abu Dhabi office in late September, announced that its latest flagship global private equity secondaries fund exceeded its target with $6 billion in commitments. Firas Mallah, Managing Director and Head of the Middle East at Pantheon, said a local presence facilitates discussions with investors. Edward Holdsworth, Managing Director on HarbourVest's secondary investment team, said regional relationships could lead to portfolio-rebalancing asset sales or co-investment partnerships.
Sovereign capital is also deepening its commitment. ADIA is recalibrating its private equity strategy, and the Abu Dhabi Investment Council (ADIC) plans to deploy up to $10 billion over the next three years. PGIM, which manages $1.5 trillion in assets, appointed Lucas Radael to head its Middle East secondaries business based in Abu Dhabi; Mohamed Abdel-Malek, Head of PGIM's Middle East business, said regional institutions increasingly use secondary transactions to manage growing private market portfolios.
Since mid-September, EQT, Pantheon and Eurazeo have opened offices in Abu Dhabi, joining Ardian and HarbourVest Partners. These firms are seeking to expand partnerships with sovereign wealth funds, co-invest alongside them and acquire stakes in companies within their portfolios. Drivers include a slowdown in traditional exit routes, particularly IPOs, which has pushed institutional investors toward secondary markets to sell stakes and unlock liquidity, as well as higher interest rates that have made asset sales more difficult. Sovereign wealth funds are also using secondaries to rebalance portfolios across technology, artificial intelligence, real estate and private equity. The article also credits the regulatory framework of Abu Dhabi Global Market (ADGM), which is based on English common law, with providing legal certainty and investor protection.
Ardian raised $30 billion last year for what was the largest-ever secondary investment platform. Yassine Zarrouk, Managing Director and Co-Head of Ardian Abu Dhabi, told Bloomberg the firm's scale makes it a natural partner for large transactions and liquidity solutions for local investors. Ardian has partnered with the Abu Dhabi Investment Authority (ADIA), which manages $1.1 trillion in assets, to launch a secondary real estate platform, and maintains partnerships with Mubadala Investment Company.
Pantheon, which opened its Abu Dhabi office in late September, announced that its latest flagship global private equity secondaries fund exceeded its target with $6 billion in commitments. Firas Mallah, Managing Director and Head of the Middle East at Pantheon, said a local presence facilitates discussions with investors. Edward Holdsworth, Managing Director on HarbourVest's secondary investment team, said regional relationships could lead to portfolio-rebalancing asset sales or co-investment partnerships.
Sovereign capital is also deepening its commitment. ADIA is recalibrating its private equity strategy, and the Abu Dhabi Investment Council (ADIC) plans to deploy up to $10 billion over the next three years. PGIM, which manages $1.5 trillion in assets, appointed Lucas Radael to head its Middle East secondaries business based in Abu Dhabi; Mohamed Abdel-Malek, Head of PGIM's Middle East business, said regional institutions increasingly use secondary transactions to manage growing private market portfolios.
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