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Guide to the ADGM Category 3C Fund Manager License

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This episode is also available as a blog post: https://10leaves.ae/publications/adgm/guide-to-the-adgm-category-3c-fund-manager-license

ADGM Fund Manager License:

Firms interested in managing funds from the ADGM are required to submit applications to the Financial Services Regulatory Authority, or FSRA.

The FSRA has a fast-track process for Fund Manager licenses, which come under Category 3C. The Fund Manager, if approved, can manage domestic professional (Exempt and Qualified Investor Funds) and Foreign Funds in other jurisdictions as well. In case the firm wishes to also engage in discretionary portfolio management services, it has to go through a full-fledged license process.

Exempt Funds:

Exempt Funds are open only to Professional Clients (as defined by the ADGM). The other features of an EF are:

  • Minimum subscription of US$ 50,000; and
  • Units are offered to persons only by way of a Private Placement.

    • Qualified Investor Funds:

    Qualified Investor Funds are open only to Professional Clients (as defined by the ADGM). The other features of a QIF are:

    • Minimum subscription of US$ 500,000; and
    • Units are offered to persons only by way of Private Placement.
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