Global investment firm Sixth Street plans to open an Abu Dhabi office later this year, signaling a strategic push into the Gulf Cooperation Council (GCC) region. Co-founder and CEO Alan Waxman highlighted improving capital markets and a pro-business environment as key drivers for the expansion.

The move aligns with a broader trend of international asset managers establishing a physical presence in the Middle East. Sovereign wealth funds in the region, including those in the UAE and Saudi Arabia, are deploying massive capital, creating deal flow for private credit and equity firms like Sixth Street.

Waxman's comments on Bloomberg's Horizons Middle East and Africa underscore the firm's confidence in the region's economic trajectory. Investors will watch for the firm's first local hires and initial investments, which could signal the pace of its GCC integration and the sectors it targets for growth.