Apollo Global Founder Leon Black Launches Family Office at Abu Dhabi’s ADGM

Post by: Raman Preet

Leon Black, the influential founder of Apollo Global Management, is establishing a new branch of his family office, Elysium Management, at the Abu Dhabi Global Market (ADGM). This new entity, named Scimitar, represents Elysium's first international expansion.

Scimitar will serve as a pivotal base for Elysium's operations outside the U.S., with Ben Black, Leon's son, collaborating with Abu Dhabi financier Asad Hussaini to develop Fortinbras, a credit platform. This expansion marks a significant step for Elysium, aligning with Abu Dhabi’s ongoing transformation and economic growth.

Leon Black, who has had a long history with the UAE, expressed enthusiasm about the move. “I’ve been coming here for more than 30 years and the growth and prosperity that has occurred under Abu Dhabi’s visionary leadership is truly remarkable. My family office wants to be a part of that transformation and, more importantly, be an active member of this community,” he stated.

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The ADGM highlighted this development as a testament to its status as a strategic hub for leading global family offices, further cementing its position in the global financial landscape.

Leon Black, who boasts a net worth of $14 billion, led Apollo Global for three decades, overseeing nearly $700 billion in assets under management. His new venture at ADGM is expected to enhance Elysium's global footprint and contribute to Abu Dhabi's dynamic financial sector

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