New Mountain Capital has opened an office in Abu Dhabi as it looks to grow its investor base across the Gulf.

The New York-headquartered alternatives firm, which has $60bn (£45.2bn) in assets under management, has set up New Mountain Capital Middle East in the Abu Dhabi Global Market (ADGM), the emirate’s international financial centre.

“Opening our office in the ADGM marks an important milestone for New Mountain and reflects our long-term commitment to the Gulf region,” said Adam Weinstein, president and chief operating officer of New Mountain.

“We have been privileged to work with many leading investors in the region for years, and establishing a local presence will allow us to deepen those relationships while building new partnerships over time.”

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The office will be led by Shehreyar Hameed, who recently joined New Mountain as a managing director. Hameed was previously at Blackstone and before that held roles at JP Morgan Asset Management and Goldman Sachs, each focused on covering the Gulf.

He will share responsibility for the region with Patrick O’Dolan, a managing director based in New Mountain’s London office.

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“New Mountain’s track record of producing industry-leading returns in ‘defensive growth’ businesses positions us well for continued success in the Middle East,” said Hameed.

“I am looking forward to partnering with Patrick to take our business to the next level.”

New Mountain invests in defensive-growth, mid-market companies in North America, across private equity, private credit and net-lease real estate funds.

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