China's GROW Group Taps ADGM for Middle East Expansion

By Stephanie Kelly

ABU DHABI, UAE – April 29, 2026 – GROW Investment Group (GIG), a Shanghai-headquartered global asset manager, has secured In-Principle Approval (IPA) from the Abu Dhabi Global Market's (ADGM) Financial Services Regulatory Authority (FSRA). The move signals a significant step in the firm's strategic expansion into the Middle East and highlights a powerful trend of deepening financial integration between China and the Gulf Cooperation Council (GCC).

The approval paves the way for GIG, which manages approximately $1.5 billion in global assets, to establish a presence in Abu Dhabi's thriving international financial center. The firm, which counts U.S. hedge fund Lighthouse and Switzerland's second-largest private bank, Bank Julius Baer, among its shareholders, plans to offer customized asset management and consulting services to the region's institutional investors, family offices, and high-net-worth individuals.

Abu Dhabi's Magnetic Pull on Global Finance

GIG's decision to anchor its Middle East operations in ADGM is part of a larger migration of global financial players to the UAE capital. ADGM has successfully cultivated an ecosystem that is proving irresistible for firms looking to bridge Eastern and Western markets. Its regulatory framework, based on English common law, offers a familiar and stable legal environment for international institutions. This, combined with a tax-friendly regime and seamless capital mobility, has positioned it as a premier hub.

The numbers underscore this success. As of 2025, ADGM reported a 48% year-on-year increase in assets under management (AUM), with 161 fund and asset managers now operating within its jurisdiction. The overall AUM in the financial center grew by a staggering 56% in 2022, making it one of the fastest-growing international financial centers in the world.

This influx includes a diverse array of players. In recent months, ADGM has granted licenses to firms like Hashed, a major South Korean Web3 venture capital firm, demonstrating its appeal across both traditional and emerging financial sectors. GIG joins a competitive but rapidly expanding market alongside established players like ADS Investment Solutions and Harrison Street Asset Management.

Arvind Ramamurthy, Chief of Market Development at ADGM, commented on the trend, stating, "We congratulate GIG on receiving the (IPA). This milestone reflects the strength and efficiency of ADGM's regulatory framework and our continued ability to attract leading global financial institutions. Abu Dhabi continues to stand out for its forward-looking approach, reinforcing its positioning as a premier international hub for finance and investment."

The New Silk Road for Capital

GIG's expansion is a clear manifestation of the burgeoning financial corridor between China and the GCC. As the region diversifies its economies away from hydrocarbons, its vast sovereign wealth—totaling over $3.5 trillion—is seeking new global investment avenues. Simultaneously, China is looking to deploy capital and deepen economic partnerships through initiatives like the Belt and Road Initiative (BRI).

This strategic alignment has created a powerful synergy. Trade between China and the MENA region soared to $505 billion in 2022, a 76% increase over the previous decade. The Middle East has become the largest beneficiary of the BRI, securing $39 billion in investments and contracts in 2024 alone. Chinese Foreign Direct Investment (FDI) stock in the UAE surged by over 20% between 2021 and 2022 to reach $11.9 billion.

This flow of capital is becoming increasingly sophisticated. Chinese banks tripled their lending to the Gulf in 2025, while Middle Eastern sovereign wealth funds are making significant direct investments into Chinese finance, energy, and technology sectors. GIG's planned services, particularly providing access to Chinese capital markets, are designed to directly facilitate this two-way street.

GIG's Strategic Play for Gulf Wealth

Founded in 2021, GIG has strategically positioned itself as a bridge between Chinese investment opportunities and global capital. The firm's partnership with Bank Julius Baer, initiated in 2022, was a clear move to build a distribution network connecting its domestic clients to global offerings and vice-versa. Now, its focus turns to the Middle East's rapidly growing and increasingly sophisticated investor base.

The region is experiencing a surge in wealth, with a projected 20% growth in family offices by 2030. These investors are moving beyond traditional assets and actively seeking diversification in private equity, technology, and alternative assets, with a notable interest in emerging Asian markets. GIG's value proposition is tailored to meet this demand, offering not just access to China but also global multi-asset portfolios.

William Ma, Founder and Global CIO of GIG, has been actively laying the groundwork for this expansion through multiple visits and participation in key regional events like Abu Dhabi Financial Week. The firm has already organized client visits to the UAE, fostering connections with local institutions such as First Abu Dhabi Bank (FAB).

"The IPA from ADGM's FSRA confirms GIG's compliance standards and long-term vision for the Middle East," Ma stated. "We will act as a long-term partner, facilitating connections between the Middle East and global (especially Chinese) investment opportunities, and contributing to Abu Dhabi's continued growth as a leading global financial center."

Securing the IPA is a critical first step. GIG will now proceed with the final conditions for full authorization, which typically involves establishing its legal entity, securing a physical office in ADGM, injecting the required share capital, and passing final regulatory reviews. While the process can take several months, the approval in principle marks a clear endorsement of the firm's strategy and its potential role in the evolving landscape of global finance.