Kirkoswald Asset Management, the London-based investment firm founded by Australian Greg Coffey, has become the latest hedge fund to establish a presence in Abu Dhabi with the opening of a new office in the emirate, according to a report by Bloomberg.

The report cites official records as showing that Kirkoswald established an entity within Abu Dhabi Global Market, the city-state’s international financial centre, late last month, with Matthew Press, Francois Lagrange and David Hassan listed as the company’s directors.

Coffey, who rose to prominence as one of the best performing traders at GLG Partners before setting up his own firm in 2018, joins a growing list of hedge funds operating in Abu Dhabi and neighbouring Dubai including Ray Dalio's Bridgewater Associates, Izzy Englander’s Millennium Management, and Michael Gelband's ExodusPoint Capital Management.