Skadden, Arps, Slate, Meagher & Flom LLP, a prominent US law firm, is establishing a new office in Abu Dhabi to leverage the increasing deal activity in the Middle East. This strategic move signifies Skadden’s commitment to expanding its global presence and tapping into the region’s burgeoning financial opportunities.
Table Content:
Skadden’s new office in Abu Dhabi aims to capitalize on the growing investment opportunities in the Middle East.
Expanding Presence in a Dynamic Market
The firm appointed Michael Hilton, former regional managing partner for the Middle East and North Africa at Freshfields Bruckhaus Deringer LLP, to lead the Abu Dhabi office. With over two decades of experience in corporate deals and a decade-long focus on the Middle East, Hilton brings extensive regional expertise to Skadden. He has advised clients across various sectors, including private equity.
Skadden’s expansion aligns with a broader trend of US law firms increasing their presence in the Middle East, a region traditionally dominated by London’s “Magic Circle” firms. The surge in Middle East dealmaking, fueled by large sovereign wealth funds and ambitious state-owned enterprises, has attracted global law firms seeking to secure a share of this lucrative market.
The Middle East’s vibrant dealmaking landscape is attracting major law firms like Skadden.
Tapping into Sovereign Wealth Fund Activity
“Large investors from the region, including wealth funds and other public and private investors, are actively pursuing opportunities both regionally and globally,” Hilton commented. He added that Skadden has already relocated senior lawyers to the Abu Dhabi office and has received numerous inquiries from professionals at other firms interested in joining.
Kirkland & Ellis LLP, the world’s largest law firm, established a presence in Saudi Arabia last year, recruiting experienced regional lawyers, including several prominent female partners. Baker McKenzie also relocated a senior partner from London to Abu Dhabi in 2024. These moves underscore the growing importance of the Middle East in the global legal landscape.
Abu Dhabi, a hub for sovereign wealth funds, offers significant investment opportunities for global firms.
A Strategic Hub for Global Dealmaking
Abu Dhabi, a major oil exporter, boasts the highest concentration of sovereign wealth funds globally, including the Abu Dhabi Investment Authority (ADIA) and Mubadala Investment Co. ADIA alone manages approximately $1 trillion in assets. The Abu Dhabi Global Market, the emirate’s primary business zone, has attracted numerous hedge funds and private equity firms.
Lorenzo Corte, a global head of Skadden’s transactions practices, emphasized the significance of sovereign wealth funds and state-owned entities in the region, stating, “They are crucial players in global dealmaking today. There aren’t many sizable deals these days where they aren’t involved in some capacity. We anticipate this outbound activity will continue to increase.” Skadden’s new Abu Dhabi office positions the firm to capitalize on this trend and solidify its role in facilitating major transactions in the region and globally.
Conclusion: Positioned for Growth
Skadden’s strategic expansion into Abu Dhabi reflects the firm’s commitment to serving clients in key global markets and participating in the Middle East’s dynamic growth. By establishing a strong presence in this crucial financial hub, Skadden is well-positioned to advise on complex transactions, leverage regional expertise, and contribute to the continued evolution of the Middle East’s legal and financial landscape. The firm’s move underscores the increasing importance of the region in global dealmaking and highlights Abu Dhabi’s growing influence as a center for international investment.
