US financial services firm Guggenheim Partners has agreed to set up a joint venture with a private Abu Dhabi investment company to offer advisory and asset management services to Middle Eastern investors.

Joining with the Khalifa Butti Bin Omeir (KBBO) Group, Guggenheim KBBO partners will market to companies looking to raise cash from global investors, as well as family offices and institutional investors in the Middle East, the firms said in a joint statement announcing the Dubai-based venture.

The business will be run by Hani Buttikhi, who currently serves as an advisor to the chairman of KBBO Group.

With many Gulf nations enjoying strong economic performance and stable political environments at a time of uncertainty in other emerging markets, international finance firms are increasingly looking to the region to market services as well as invest in local debt and companies.

Guggenheim Partners is a global investment and advisory firm with more than $210 billion in assets under management. - Reuters