Napier Park Global Capital, a US-based alternative asset management firm, has expanded its business operations into the UAE with the opening of a new office at the Dubai International Financial Centre (DIFC).
The firm has received official approval to launch the office from the Dubai International Financial Centre Authority on 15 September 2013.
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Napier Park said that it will now have offices in New York, London and Dubai.
According to Napier Park, the DIFC office will be headed by managing director, Saad Ashraf, an investment professional with more than 17 years of experience in the MENA region. Prior to joining Napier Park, Ashraf held senior roles at Citi Capital Advisors, Goldman Sachs, Merrill Lynch and Citi Global Markets in fundraising and securities businesses in Dubai and London.
Jim O’Brien, co-managing partner of Napier Park, said: "Expanding our asset management business into the UAE is an important next step to growing our global platform.
"We are excited to now be able to offer Napier Park’s innovative credit products to sophisticated investors in the MENA region," O’Brien added.
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By GlobalDataJeff Singer, CEO of DIFC Authority, said: "We are pleased to welcome Napier to DIFC’s growing community and believe that their presence will contribute to the diversification of the Centre’s offerings and strengthen its position as a leading global financial hub.
"The expansion of Napier Park Global offices comes at a time when an increasing number of firms are choosing the DIFC as a gateway to regional and international markets, a testament to the Centre’s strategic location as a bridge between East and West," Singer added.
