Plenary secures In-Principle Approval from ADGM’s FSRA for new investment platform

ABU DHABI, UAE – Plenary Group has received In-Principle Approval (IPA) from the Financial Services Regulatory Authority of ADGM for a Category 3C fund manager licence.

Pending final approval, Plenary will be authorised to act as a fund manager for, and shall establish, the new infrastructure investment platform Plenary Infrastructure Investments ICC Ltd.  The new platform will sit alongside Plenary Middle East Limited, the co-development vehicle of Plenary Group and global sovereign investor ADQ, which is also domiciled in ADGM.

The IPA comes as Plenary makes further investments in building out its development team in the Middle East ahead of a forecast wave of projects in the region.

The investment platform will provide opportunities for local and foreign investors to gain exposure to projects developed and managed by Plenary Middle East Limited, investing alongside Plenary.  It will also provide pathways into projects originated and managed by Plenary elsewhere in the world.

Plenary Head of Strategy & Corporate Development Warwick Taylor said, “Plenary is seeking to create a flexible investment platform to respond to the significant capital deployment need for greenfield infrastructure projects in the region.

“We see ADGM as the natural home for this platform, as a leading hub for innovation in finance. As such, we are very pleased to have reached this milestone.”

Plenary CEO Paul Crowe said, “The Middle East is a significant growth region for Plenary, and we have built out a large, high-quality team to convert the significant pipeline in the region into investable projects.  The Plenary Infrastructure Investments platform is an important initiative to provide capital deployment opportunities for local and foreign investors into those projects alongside Plenary, through a flexible ADGM product.”

ADGM Chief Market Development Officer Arvind Ramamurthy said, “ADGM continues to strengthen its position as a leading hub for asset management and alternative investment activity. Plenary’s IPA approval reflects the calibre of global institutions choosing our ecosystem to scale their regional and international ambitions. We look forward to supporting the establishment of this new platform as it contributes to the development of critical infrastructure and long-term capital formation in the UAE.”

Subject to final approval, Plenary intends to begin formal fundraising activities in 2026.