Quantitative asset manager Primrose Capital Management has secured Financial Services Permission from Abu Dhabi Global Market’s Financial Services Regulatory Authority, completing its regulatory approval process in the UAE.
The licence follows the firm’s earlier in-principle approval and marks a key step in its strategy to expand operations in the Middle East. It also strengthens Primrose’s position as an investment bridge between Asian markets and Gulf capital.
The approval highlights the role of Abu Dhabi Global Market as a regulated centre for innovation across both digital and conventional financial markets. It also reflects Primrose’s approach to compliance, risk oversight, and institutional standards. Since mid-2025, the firm has increased staffing in Abu Dhabi and developed local research capabilities to align its trading models with regional liquidity patterns.
Across the Gulf, institutional investors and family offices are increasing allocations to systematic strategies that offer clear risk controls. Demand spans global futures, options, and digital-asset derivatives. Family offices in the GCC now manage assets exceeding US$500 billion, creating sustained interest in disciplined, model-based investment solutions.
Linus Ong, Chief Investment Officer at Primrose Capital Management, said: “Securing the FSP is an important endorsement of our model, our governance framework, and our commitment to the region. ADGM has built one of the world’s most forward-thinking regulatory environments for digital and traditional markets alike. This licence allows us to partner even more deeply with the Middle East’s institutional ecosystem at a time of accelerating structural demand. Our goal is to provide Gulf allocators with transparent investment strategies that deliver consistent risk-adjusted returns across cycles. With the regulatory foundation now complete, we are positioned to scale meaningfully in 2026 and beyond.”
Following the approval, Primrose plans to launch feeder funds based in the MENA region. These funds will provide regional investors with access to the firm’s core Global Multi-Strategy and Digital Options offerings. The structure supports closer integration between Asian trading venues and Gulf investors, reinforcing cooperation between Singapore and Abu Dhabi in finance, infrastructure, and digital innovation.
Primrose enters 2026 with a clear goal to:
- Deepen local market research and engineering capabilities to reflect MENA-specific flows and volatility regimes.
- Expand family office and sovereign partnerships, delivering bespoke model-driven overlays and derivatives-based yield solutions aligned with institutional governance standards.
- Strengthen digital-asset infrastructure connectivity, ensuring robust, regulated access to the firm’s high-convexity derivative strategies.
- Advance regional hiring, contributing to ADGM’s innovation cluster and supporting the UAE’s broader goals for high-skilled financial sector employment.
With the FSRA licence now in place, Primrose is firmly anchored within one of the world’s most dynamic financial centres. The firm remains committed to building long-term, trusted partnerships, combining rigorous quantitative research with a human-centred client experience. These values align closely with its ethos of integrity, excellence and client care.
