BlackRock gains license to operate in Abu Dhabi

BlackRock Inc, a major global asset manager, has received a commercial license to operate in Abu Dhabi.

The company plans to seek regulatory approval for activities in the Abu Dhabi Global Market (ADGM).

This move comes after BlackRock’s recent decision to set up its regional headquarters in Saudi Arabia.

The plan is to work closely with Abu Dhabi’s sovereign wealth funds and investment bodies on AI infrastructure and transition initiatives.

Recent BlackRock developments

Timeline
18-Sep-2024 🤖 BlackRock, Microsoft to form $30b AI infrastructure fund BlackRock, Microsoft launch $30B AI fund Partnership could mobilize $100B in total investment
12-Jan-2024 📉 BlackRock slashes Byju’s valuation from $22b to $1b BlackRock slashes Byju’s value to $1 billion Byju’s faces challenges, IPO plans postponed
27-Jul-2023 💰 BlackRock, Jio team up to democratize investing for Indians BlackRock and Jio launch $300M joint venture. New firm aims to democratize financial investment in India.
29-Sep-2022 ✈️ Traveloka lands $300m funding from BlackRock, Indonesia govt Traveloka secures $300M funding from investors Plans to strengthen balance sheet post-pandemic
25-Nov-2021 🚀 India Roundup: BlackRock, others buy Paytm shares despite weak IPO debut, and more BlackRock, CPPIB buy more Paytm shares post-plunge upGrad merges units aiming for 7.5M users by 2024

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