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Trowers & Hamlins says it published an update on ADGM fund manager reforms
Trowers & Hamlins said it published an update on streamlined regulatory frameworks for fund managers in Abu Dhabi Global Market. The firm said the reforms create sub-threshold and institutional fund manager categories, with eligibility based on committed capital, investor characteristics and the types of funds managed.
Key points
- The firm said sub-threshold managers may oversee up to $200 million of committed capital in qualifying closed-ended funds.Trowers & Hamlins
- Trowers said institutional funds must require a minimum $5 million subscription and exclude natural-person investors.Trowers & Hamlins
- The firm said existing venture capital managers have a transition period ending March 31, 2027.Trowers & Hamlins
- Trowers said the reforms also revise requirements for foreign fund managers.Trowers & Hamlins