General Atlantic plans to open an Abu Dhabi office by the end of the year and move a dealmaker from London as an inaugural member of the new team, two sources familiar with the matter said. The New York-based private equity firm has received preliminary approval for a license to operate out of the Abu Dhabi Global Market (ADGM). Final approval is expected by the end of 2024. General Atlantic will join other global asset managers and hedge funds in the UAE capital's financial centre, lured by opportunities to deepen relationships with its sovereign wealth funds as other funding for buyouts dries up. General Atlantic's managing director Karim Boueiz will relocate to the Abu Dhabi office from London, where he currently focuses on its Capital Solutions strategy, the sources said.