Fortress Opens Abu Dhabi Office, Appoints MENA Regional Head

Fortress Investment Group, a leading U.S.-based global investment management firm, has officially opened its new office in Abu Dhabi as part of a broader push to expand its footprint across the Gulf region. The move reflects growing investor appetite and co-investment opportunities in private credit, real estate, and asset-based strategies as Gulf economies diversify away from oil dependency.

The firm announced on Wednesday that Charles Spetka has been appointed Head of the Middle East and North Africa (MENA) to spearhead regional operations. Spetka currently serves on the boards of several Fortress portfolio companies, including Mammoth Freighters and Aspire MRO.

In an interview with Reuters, Fortress Co-CEO Drew McKnight emphasized the scale of the opportunity in the region:

"I think the opportunity in Saudi particularly on the consumer finance side is immense... If you look at what the kingdom's plans are from an infrastructure perspective, they're probably more capital constrained, and in terms of their banks, really need people like this to come in."

Harry Steel, Managing Director at Fortress currently based in London, will also relocate to Abu Dhabi to lead regional distribution efforts.

Two New Teams, Regional Hiring Plans

The new Abu Dhabi office will house two specialized teams: one dedicated to consumer finance and the other to Fortress’s multi-manager investment business. The company plans to build out its team with a mix of local hires and transfers from Fortress offices in London, New York, and Asia. These teams will focus on origination, underwriting, and asset management—key functions as the firm scales its presence across the Gulf.

A Mubadala-Backed Expansion

Fortress’s expansion comes in the wake of a 68% acquisition by a consortium led by Mubadala Capital, a subsidiary of Abu Dhabi’s Mubadala Investment Company, in 2023. Despite Mubadala's majority stake, Fortress maintains full autonomy over its investment processes, operations, and personnel.

Last month, Mubadala and Fortress deepened ties through a $1 billion strategic partnership to co-invest in private credit—an area gaining strong momentum in the region as governments seek alternative funding sources for infrastructure and development projects.

Growth Eyes on Saudi Arabia

Saudi Arabia is a top priority for Fortress as it looks to capitalize on opportunities stemming from Vision 2030, the kingdom’s ambitious economic transformation program. With an emphasis on infrastructure, urban development, and financial inclusion, the Saudi market presents “immense” potential for consumer finance solutions and institutional capital deployment, McKnight noted.

Strategic Timing with U.S. Delegation Visit

The announcement coincides with former U.S. President Donald Trump’s four-day tour of the Gulf, during which several large-scale business deals were revealed, including a $600 billion Saudi investment pledge in the U.S. and $142 billion in arms agreements. The geopolitical spotlight further underscores the growing significance of cross-border financial cooperation between Gulf nations and U.S. institutions.