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16 The Global Frontiers of Private Investment Funds

From: The Law of Private Investment Funds (3rd Edition)

Timothy Spangler

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 30 May 2024

Regulated activities — Private fund

This chapter discusses the global expansion of private investment funds in the twenty-first century, focusing on two regions: Asia and the Middle East. In particular, it examines questions about the balance of power between fund managers and investors, the role of top-down regulation in non-public financial transactions, and the ability of private monitoring solutions to provide a meaningful alternative to such approaches. The chapter first describes the asset management industry in the United Arab Emirates, with emphasis on the roles of the Dubai International Financial Centre and the Dubai Financial Services Authority, before turning to Saudi Arabia and Islamic investment funds. It also considers Hong Kong and Singapore as centres of private investment funds in Asia, along with passporting and recognition that facilitate the cross-border offering of funds in other participating jurisdictions throughout the continent.

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