Dubai Royal Opens $500 Million Family Office in Hong Kong

(Bloomberg) — Sheikh Ali Al Maktoum, the nephew of Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum, is opening a family office in Hong Kong, one of the first high-profile international investors to respond to the city’s campaign to lure foreign capital.

The investment firm, which will manage up to $500 million, is looking for opportunities in Asia in sectors including artificial intelligence, construction, electric vehicles, tourism and fintech, Eleanor Mak, its chief executive officer, said in a Bloomberg TV interview. Hong Kong is the investment firm’s first foreign outpost, and the family office has started engaging in talks with potential target companies.