US law firm Skadden opens in Middle East with Abu Dhabi launch

By David Thomas

Jan 9 (Reuters) - U.S. law firm Skadden, Arps, Slate, Meagher & Flom on Thursday said it has opened an office in Abu Dhabi, following other companies that have set up shop in the oil-rich emirate's designated financial center in recent years.

Michael Hilton will lead the Abu Dhabi office, the New York-founded firm's first in the Middle East, Skadden said. Hilton, a corporate dealmaker, previously served as Freshfields' regional managing partner for the Middle East and North Africa.

A Freshfields spokesperson did not immediately respond to a request for comment.

Abu Dhabi has seen banks, hedge funds, family offices, venture capital firms and crypto traders pour into the United Arab Emirates' capital. Its financial center, known as the Abu Dhabi Global Market or ADGM, contains offices of some of the world's biggest sovereign wealth funds such as ADIA, Mubadala and ADQ.

The number of companies that opened in the financial center increased by 31% in the first half of 2024, ADGM said in August.

Last month, U.S.-listed direct lender and private credit manager Golub Capital GBDC.O said it was opening an Abu Dhabi office, having receiving preliminary approval for a license.

(Reporting by David Thomas)

((D.Thomas@thomsonreuters.com;))