Lionhart is the latest investment firm to recognise the increasing sophistication of Gulf investors and the rapid development of region's economies, and the company says that it has committed itself to the Gulf region for the long term.

The Dubai office will be headed by Jim Quinn who has over 20 years experience in the asset management industry with 10 years experience in the Gulf region.

According to Lionhart, the office opening and the establishment of a dedicated team in Dubai is the culmination of many years of investing in the Middle East.

Abdulla Al Awar, Managing Director of DIFC Authority commented: "The funds industry in the Middle East has seen rapid growth in the past few years, spurred by the growth of the economy and the availability of a world-class financial services infrastructure. The increasing commitment shown by leading firms like Lionhart in the region will boost the market for funds generally, and for hedge funds specifically. We look forward to providing Lionhart with the services that will support their efforts to develop their business in the region."

Terry Duffy, CEO of Lionhart, added: "Our global expansion continues with the launch of our Gulf operations. We feel strongly that our track record of achieving strong, absolute, non-correlated annual returns on a consistent basis while maintaining a core commitment to preservation of investor capital fits well with the appetites of investors in the Gulf."

Jim Quinn, Senior Executive Officer of Lionhart (Middle East) Ltd. stated: "I am delighted to be announcing the launch of Lionhart's first office in the Middle East. Gulf investors were amongst the first in the world to see the advantages of hedge fund products and we believe that the DIFC represents the ideal base for our regional headquarters."