Primrose Capital Management, a digital asset management firm from Singapore, has secured an in-principle approval (IPA) from the Financial Services Regulatory Authority (FSRA) of ADGM.
The company’s move is likely part of a strategy to tap into the $500 billion family office market in the Middle East.
This nod from the FSRA isn’t the full deal yet, but it’s a promising start. Primrose has the green light to advance towards obtaining a complete license in the coming months, giving them some homework before they fully settle in.
Primrose’s strategic move comes as more global investors eye the promising financial landscape of the Middle East, seeing it as a fertile ground for growth and investment opportunities.
As many as 134 asset and fund managers are reportedly operating in the Abu Dhabi market, managing around 166 funds. Notably, the figure for assets under management swelled by 245% in 2024, underscoring the emirate’s rapid financial growth.
