Hudson Bay, a hedge fund with assets worth $20 billion, is extending its business operations to Dubai.
Hudson Bay Capital Management, a multi-strategy investment firm based in Greenwich, is set to open an office in Dubai, following in the footsteps of other prominent hedge funds like Balyasny Asset Management and ExodusPoint Capital Management. With approximately $20 billion in assets under management, Hudson Bay is expanding its presence in the Middle Eastern business hub.
To spearhead its operations in the region, the firm has hired Chiara Chabanne as the senior executive officer and the first portfolio manager for the Dubai office, according to an anonymous source familiar with the matter. Chiara, who previously worked at Schonfeld Strategic Advisors LLC, brings a wealth of experience to the role, having also held positions at Moore Europe Capital Management and JPMorgan Securities, as per her LinkedIn profile. Supporting Chiara in her new role will be Antoine Chabanne, as per the same source.
Hudson Bay’s decision to establish a presence in Dubai aligns with the trend among multi-strategy hedge funds to expand globally, aiming to attract top talent and diverse trading groups to enhance their investment strategies. Offering a desirable location has become a significant advantage in their efforts to entice skilled traders.
This move marks Hudson Bay as the latest hedge fund to tap into Dubai’s appeal, as the city continues to attract prominent investment firms, cryptocurrency companies, real estate investors, and wealthy individuals from around the world. Millennium Management, led by Izzy Englander, already employs over two dozen individuals in Dubai, while ExodusPoint, one of the largest multi-strategy hedge funds managed by Michael Gelband, is also expanding its presence in the city. Additionally, Michael Platt’s private investment firm, BlueCrest Capital Management, is in the process of establishing a foothold in Dubai.
Hudson Bay’s global expansion has been ongoing, with the firm currently employing nearly 100 investment and risk professionals across its offices in New York, London, Miami, and now Dubai. This strategic growth reflects the firm’s commitment to building a robust team and leveraging its expertise in various markets.
At present, a representative from Hudson Bay has declined to provide further comments regarding the expansion into Dubai. However, the move demonstrates the firm’s confidence in the opportunities offered by the Middle Eastern region and its commitment to staying competitive in the global hedge fund landscape.
While Hudson Bay has declined to comment on its expansion plans, the decision to establish a presence in Dubai aligns with the strategic direction pursued by several multi-strategy hedge funds. These firms are proactively seeking global expansion to attract top-tier talent and tap into diverse trading groups, enhancing their investment strategies and maximizing profitability. Offering a highly sought-after location like Dubai has become a significant advantage for hedge funds in their quest to lure skilled traders and reinforce their competitive edge.
Hudson Bay’s entry into Dubai represents the latest addition to the city’s growing list of prominent hedge funds. Dubai has successfully attracted some of the world’s largest investment firms, along with cryptocurrency companies, property investors, and international billionaires. Izzy Englander’s Millennium Management already has a substantial workforce in Dubai, while ExodusPoint, helmed by Michael Gelband, is actively expanding its operations in the city. Notably, Michael Platt’s private investment firm, BlueCrest Capital Management, is also in the process of establishing a strong presence in Dubai.
With a global team of nearly 100 investment and risk professionals, Hudson Bay is focused on expanding its capabilities and leveraging its expertise across various markets. The addition of the Dubai office aligns with the firm’s broader strategy of diversification and growth. Alongside its existing offices in New York, London, and Miami, the new Dubai office will enhance the firm’s ability to capitalize on emerging opportunities in the Middle East.
