United Arab Emirates: 28 April 2021: Tribe Infrastructure Group (Tribe), founded in 2011 to improve sustainability of communities through innovative financing and development of essential infrastructure solutions, today announced that it has been granted from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM), a FSP to carry on the Regulated Activity of Managing a Collective Investment Fund.
Tribe Infrastructure Group (Tribe) further expands its presence at ADGM, marking a major milestone for the ADGM-headquartered firm. Tribe Capital will look to raise and manage investor funds, while maintaining rigorous adherence to the robust regulations set out by the ADGM FSRA.
Peter McCreanor, CEO of Tribe said: “Receiving ADGM FSRA approval is a significant moment in Tribe’s growth story, and a natural expansion of our business. We have had a presence at ADGM since its nascent stages and our advisory and development arms have grown significantly as part of the ADGM ecosystem. Tribe is committed to improving the sustainability of the communities in which we operate through providing advisory, development and financing solutions for critical infrastructure projects. Launching Tribe Capital is a natural evolution of our offering, to fulfil our corporate objectives, building on the strengths of the Tribe group.”
Juma Al Hameli, Senior Executive Director of Strategy and Business Development at ADGM, said: “As we at ADGM continue to place greater emphasis on championing sustainability, we are pleased to enable like-minded institutions, such as Tribe, in charting a growth journey that further complements our ethos. Through our world-class regulatory frameworks and international standard business ecosystem, we are confident that ADGM will serve as a premier launch-pad for Tribe’s growing portfolio of services, whilst sustaining this momentum in a highly competitive sector and region. Granting entities with enabling licenses is only further testament to our vision of becoming a foremost international financial centre as we look to power Abu Dhabi’s continued growth and sustainability.” Since its launch in 2011, Tribe Infrastructure Group has supported the development of infrastructure projects in the Middle East, Asia and Australia through its infrastructure advisory and development units. Tribe relocated to ADGM in 2016 and was an early supporter of the international financial centre. It has advised on a range of public and private sector projects including Sharjah Hamriyah IPP and Sharjah Waste to Energy plant and has taken at-risk positions with its development partners, primarily in the waste to energy sector, including through a joint venture with Masdar to develop such projects in Australia.