Prime Highlights-
- AGL Credit Management secures ADGM approval, expands presence across the GCC region.
- Michael Phillips appointed Managing Director to lead firm’s regional growth strategy.
Key Facts-
- AGL manages $25 billion in assets, founded in 2019 by Peter Gleysteen.
- Firm opened ADGM office in August 2025, established AGL Credit Management GCC Limited.
Background-
AGL Credit Management (AGL) has won approval to run regulated financial activities in Abu Dhabi’s international financial center. The green light comes from the Financial Services Regulatory Authority ADGM. It marks a key step in AGL’s growth across the Gulf Cooperation Council (GCC) region.
It comes after AGL set up its ADGM office in August 2025 and launched AGL Credit Management GCC Limited. The firm has named Michael Phillips as Managing Director to guide its GCC expansion, with a focus on institutional investor relationships and new strategic partnerships.
Phillips, based in ADGM, reports to Kassem Shafi, AGL’s Head of Investor Solutions and Capital Formation. He previously served as Head of Corporate Credit at the Abu Dhabi Investment Council and earlier led credit within the Special Opportunities group at the Teacher Retirement System of Texas.
Founded in 2019 by Peter Gleysteen with backing from a subsidiary of the Abu Dhabi Investment Authority, AGL now manages $25 billion in assets.
Gleysteen, Founder, CEO and CIO, said the license marks a meaningful growth milestone and reflects the firm’s long-standing regional commitment, adding that Phillips brings strong institutional credit experience to lead this phase.
Arvind Ramamurthy, Chief Market Development Officer at ADGM, welcomed AGL to the growing ecosystem, calling its expansion a sign of Abu Dhabi’s pull as a global financial hub and ADGM’s role as a trusted platform for global institutions.
