Page 127 - KHALIFA FUND PR REPORT FEBRUARY 2025

3/4/25, 11:27 AM ADGM Sees 245% Growth In Assets Under Management In 2024 - UrduPoint
businesses on Al Reem Island until 31st December 2024. The total number of

operational entities grew to 2,381, marking a 32 percent year-on-year increase,

with workforce numbers rising by 39 percent.

Numou, ADGM’s SME lending platform, strengthened its position in 2024 by

expanding its partner network, including Khalifa Fund for Enterprise Development

and private credit providers such as Credible-X, Klubworks and NymCard

Payment Technologies.

In 2024, ADGM’s Financial Services Regulatory Authority (FSRA) introduced

frameworks for fiat-referenced tokens (stablecoins), ESG Greenwashing

guidance, IT Risk Management and updated Prudential Rules in line

with Basel Committee recommendations. A whistleblowing framework was also

launched, including a dedicated reporting portal.

The Registration Authority (RA) enhanced Real Property Regulations, introduced

off-plan development regulations, and launched AccessRP, a digital real estate

transaction platform.

ADGM reaffirmed its role in sustainable finance with a discussion paper on the

region’s first comprehensive Sustainable Finance Regulatory Framework. Key

asset managers focused on sustainable investing—including TPG, Patrizia,

Alterra, Fiera Capital, Nuveen, Kimmeridge, Marshall Wace, PGIM, Polen Capital,

Joy Capital, BlackRock, General Atlantic, Ninety One, Golub Capital, APAX and
AXA IM—established operations in ADGM.

The FSRA granted Green Fund Designation to Vortex Energy IV, a

US$1.8 billion AUM firm backed by Abu Dhabi’s sovereign wealth funds and

institutional investors. ADGM also welcomed 44 new signatories to the Abu

Dhabi Sustainable Finance Declaration, raising the total to 160.

An increasing number of global family offices and billionaires established

operations in ADGM in 2024, including Leon Black’s Elysium Management. Other

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