Leon Black, the founder of Apollo Global Management, which currently manages nearly $700 billion in assets, has expanded his family office, Elysium Management, by establishing a new branch at Abu Dhabi Global Market (ADGM).
The new office, named Scimitar, will be Elysium’s first international base. Scimitar has recruited a team of experienced professionals, including Abu Dhabi-based financier Asad Hussaini. Hussaini, along with Black’s son Ben, will develop the credit platform Fortinbras.
“I’ve long admired and respected the people of Abu Dhabi who are at the core of driving the development of UAE and the entire Gulf Region,” Black said in a statement. “I’ve been coming here for more than 30 years and the growth and prosperity that has occurred under Abu Dhabi’s visionary leadership is truly remarkable.
“My family office wants to be a part of that transformation and, more importantly, be an active member of this community. Having an office with local executives leading it is critical to our strategy and demonstrates our commitment.”
ADGM, the International Financial Centre of Abu Dhabi, welcomed this development, stating: ‘We are delighted to welcome Mr. Leon Black and Elysium Management to ADGM. Mr. Black brings with him a wealth of experience and an unwavering commitment to excellence, further contributing to our thriving ecosystem.
“This move not only reflects the deep ties between Mr. Black and the region but also underscores the importance of ADGM as a strategic base for leading global family offices.”
