Fund of hedge funds management company Liongate Capital Management is opening a Dubai office.

The Dubai Financial Services Authority (DFSA) has granted Liongate a licence to operate from the Dubai International Financial Centre (DIFC). Liongate has appointed Fahad Al-Bader as senior executive officer of the new office.

The office will advise institutional clients based in the Middle East and North Africa (MENA) region on their allocations to hedge funds, as well as acting as a vehicle to capitalise on regional investment opportunities. Liongate said it would be hiring staff for a Dubai-based research department.

DIFC governor Omar Bin Sulaiman said Liongate's launch was "testimony to DIFC's ability to offer a secure and productive platform for the growth of hedge funds. It also demonstrates the continued confidence of the global financial industry in the potential of the regional market."

"The establishment of the Dubai office is an important and integral part of our international growth strategy and underlines our focus on allocating resources to bring us closer to our investors, both current and future. Being closer to our investors in the region is an additional way to help them navigate through these difficult times," commented Liongate CEO Randall Dillard.

Al-Bader was previously head of hedge funds for the Kuwait Fund and head of alternative investments for Ryada Capital. He joined Liongate in May 2008.

Liongate has also established an advisory board in Dubai, drawing on the expertise of experienced regional investors in hedge funds. The advisory board members will assist Liongate Capital Management's development in the region.