Regulation
iCapital Secures ADGM Financial Services Permission in Abu Dhabi
Add Securities.io to your preferred sources on Google
iCapital announced on September 17, 2026 that it has received a Financial Services Permission from the Financial Services Regulatory Authority (FSRA) of ADGM, the international financial center of Abu Dhabi, and that it has expanded the Sharia-compliant alternative investment strategies available to eligible investors across the Gulf region.
The company stated that the ADGM license strengthens its ability to serve eligible clients locally and supports its broader strategy of delivering institutional-quality alternative investment opportunities to a growing base of professional and qualified investors across the Gulf. The licensed entity is iCapital Middle East Limited, identified in the announcement as authorised and regulated by the FSRA of Abu Dhabi Global Market.
iCapital said the permission follows the establishment of its Abu Dhabi office in December 2025, its first in the Middle East, and builds on its strategic partnership with MPW Capital Advisors, the firm’s regional distribution partner across the Gulf Cooperation Council (GCC).
Sharia-Compliant Strategy Expansion With Aditum
Working with Aditum Investment Management Limited, iCapital has broadened the range of Sharia-compliant alternative investment strategies available to eligible investors. The company described Aditum as a specialist Islamic investment structuring provider with more than $9 billion in assets under management, and characterized the initiative as part of its commitment to bringing global capabilities to local markets in a manner that reflects regional requirements and investor preferences.
“The Middle East is one of the most dynamic and strategically important growth markets for iCapital,” said Brooks Entwistle, Head of International at iCapital. He said that as wealth managers and eligible investors increasingly incorporate alternative investments, including private markets and hedge funds, into diversified portfolios, the firm is focused on delivering the products, technology infrastructure, and education needed to support thoughtful implementation at scale. He added that the firm’s local presence in Abu Dhabi strengthens its ability to serve clients across the Gulf with solutions that reflect regional requirements.
Arvind Ramamurthy, Chief Market Development Officer at ADGM, said: “We congratulate iCapital on securing its FSP and welcome its continued expansion in ADGM.” He added that as demand for alternative and Sharia-compliant investment strategies continues to grow, ADGM remains committed to supporting a dynamic, well-regulated environment that advances the development of the wealth and asset management sector.
Abu Dhabi Office and Gulf Distribution History
The Financial Services Permission follows the December 11, 2025 opening of iCapital’s first Middle East office, located in Abu Dhabi within ADGM. At the time of the opening, the firm said it had received in-principle approval for advisory and arranging services in ADGM, subject to receipt of final regulatory approval from the FSRA. The Abu Dhabi office joined iCapital’s global network of 17 locations as the firm’s 10th office outside the United States, alongside Zurich, London, Edinburgh, Lisbon, Hong Kong, Singapore, Sydney, Toronto, and Tokyo. In that announcement, iCapital reported more than $270 billion in global platform assets as of October 31, 2025.
The Gulf build-out began earlier, with the November 4, 2024 strategic partnership with MPW Capital Advisors, a regulated financial services firm headquartered in Abu Dhabi. Under the partnership, MPW serves clients in Dubai, Abu Dhabi, Kuwait, Oman, Bahrain, Qatar, and Saudi Arabia, and iCapital Marketplace strategies spanning private equity, private credit, hedge funds, real estate, and infrastructure are offered to GCC financial advisors at banks, family offices, and independent financial institutions. The 2024 announcement cited a Boston Consulting Group projection that net wealth in the Middle East and Africa would grow from $19.2 trillion in 2023 to $30.6 trillion in 2028.
iCapital also announced the return of iCapital Engage+ Dubai, which will convene wealth managers, asset managers, and industry experts to examine trends shaping alternative investing, including private markets and hedge funds. The company said that through events such as Engage+ it seeks to equip professional clients and wealth managers across the region with the products, technology, and knowledge needed to incorporate alternative investment strategies into client portfolios.
iCapital reports $1.2 trillion of assets serviced globally on its platform as of June 30, 2026, including $327 billion in alternative platform assets, $311 billion in structured investments and annuities and insurance outstanding, and $563 billion in client assets reported on. The company states that it serves nearly 3,900 wealth management firms and 144,000 active financial professionals. Headquartered in New York and Greenwich, Connecticut, iCapital operates 18 offices, including hubs in Zurich, London, Hong Kong, Singapore, Tokyo, Sydney, Abu Dhabi, and Toronto, along with a research and development center in Lisbon.
