Blue Owl Capital Appoints Haitham Abdulkarim to Lead Middle East Expansion

Blue Owl Capital Inc. has appointed Haitham Abdulkarim to oversee its institutional business in the Middle East, expanding its presence in Abu Dhabi and Dubai, as the company seeks to tap into the region's growing pool of institutional investors and sovereign wealth funds. This strategic move aims to secure capital commitments from family offices, pensions, and sovereign wealth funds, further solidifying Blue Owl's position in the $1.7 trillion private credit market." This description focuses on the primary topic of Blue Owl Capital's expansion into the Middle East, the main entity of Haitham Abdulkarim, and the context of the private credit market. It also highlights the significant actions and implications of this move, including the company's goal to secure capital commitments from prominent investors in the region.

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Bijay Laxmi
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Blue Owl Capital Appoints Haitham Abdulkarim to Lead Middle East Expansion

Blue Owl Capital Appoints Haitham Abdulkarim to Lead Middle East Expansion

Blue Owl Capital Inc. (NYSE: OWL) has appointed Haitham Abdulkarim to oversee the company's institutional business in the Middle East, strengthening its presence in Abu Dhabi and Dubai. The appointment is part of Blue Owl's strategic push to enhance its capabilities in the region, aiming to secure capital commitments from family offices, pensions, and sovereign wealth funds.

Why this matters: Thisexpansion into the Middle East marks a significant move for Blue Owl Capital, as it taps into the region's growing pool of institutional investors and sovereign wealth funds. As the private credit market continues to grow, this move could have implications for the global financial landscape and the flow of capital between regions.

Abdulkarim, who previously served as head of UAE at BlackRock Inc., brings extensive experience to his new role. At BlackRock, he was part of the founding team that established the firm's first product dedicated to the Middle East. "Hiring Haitham highlights Blue Owl's commitment to deepening our relationships and more seamlessly collaborating with our Middle Eastern investment partners," said Doug Ostrover and Marc Lipschultz, Blue Owl's co-Chief Executive Officers.

Blue Owl, which oversees $174 billion in assets, is expanding its presence in the Middle East as institutional investors such as Mubadala Investment Co. and the Abu Dhabi Investment Authority commit billions of dollars to the asset class. Last September, Blue Owl received a $1 billion commitment to the firm's credit platform from Mubadala.

The company is finalizing plans to open its regional flagship office in Abu Dhabi in the coming months and has recently received a license in the Dubai International Financial Centre. Abdulkarim expressed his enthusiasm for the new role, stating, "It has been amazing witnessing Blue Owl's exponential growth over the past three years as the firm continues to expand and foster partnerships with some of the most prominent global investors. I am excited to join such a preeminent institution and further scale the firm's Middle Eastern coverage including Abu Dhabi and Dubai."

Blue Owl's expansion in the Middle East comes as firms across the $1.7 trillion private credit market seek to build out presences in the region. The Middle East is witnessing significant inflows of capital into the private credit market, with institutional investors actively committing billions of dollars to this asset class.

Blue Owl Capital Inc. (NYSE: OWL) is an alternative asset manager with over $174 billion in assets under management as of March 31, 2024. The company invests across three multi-strategy platforms: Credit, GP Strategic Capital, and Real Estate, providing private capital solutions and alternative investment opportunities. With Haitham Abdulkarim's appointment and the establishment of its flagship office in Abu Dhabi, Blue Owl is well-positioned to deepen its relationships and collaborations with Middle Eastern investment partners.

Key Takeaways

  • Blue Owl Capital appoints Haitham Abdulkarim to oversee Middle East institutional business.
  • Abdulkarim brings extensive experience from BlackRock, where he established the firm's first Middle East product.
  • Blue Owl aims to secure capital commitments from family offices, pensions, and sovereign wealth funds in the region.
  • The company is expanding its presence in Abu Dhabi and Dubai, with a new flagship office opening soon.
  • Blue Owl's move taps into the Middle East's growing pool of institutional investors and sovereign wealth funds.