MENA Newswire News Desk: Elysium Management, led by Apollo Global Management founder Leon Black, has officially opened its first international branch at Abu Dhabi Global Market (ADGM). The new office, named Scimitar, will play a key role in expanding Elysium’s global presence. Black, a prominent private equity figure with a net worth exceeding $14 billion, expressed his long-standing admiration for the UAE’s growth. His family office, Elysium, will now have a strategic base in the Middle East, with Scimitar poised to tap into regional opportunities.
Abu Dhabi-based financier Asad Hussaini and Black’s son, Ben, will lead the development of the credit platform Fortinbras as part of the expansion. ADGM, Abu Dhabi’s International Financial Centre, welcomed this development, underscoring its strategic importance for global businesses. In a statement, ADGM praised Black’s move as a testament to the region’s appeal as a business hub. “We are delighted to welcome Leon Black and Elysium Management to ADGM,” the center stated. “Black’s deep experience and commitment to excellence will greatly contribute to our ecosystem. Elysium’s first international office is further proof of Abu Dhabi’s growing importance for global entities.”
Leon Black emphasized the significance of the UAE’s leadership in the region. “The growth and prosperity achieved under Abu Dhabi’s visionary leadership is truly remarkable,” Black said. “My family office wants to contribute to that transformation, and establishing an office here is a crucial step in our strategy.”
This expansion reflects Black’s longstanding ties with the region, cultivated over 30 years during his tenure at Apollo Global Management, which manages nearly $700 billion in assets. Elysium’s decision to establish its first overseas office at ADGM is seen as a major vote of confidence in Abu Dhabi’s role as a financial hub. With this move, Elysium Management positions itself at the heart of one of the world’s leading financial centers, as it embarks on a new chapter of international growth.