Newera, a hedge fund based in Abu Dhabi and founded by former Waha Capital portfolio manager Omar Newera, has secured a USD 500 million investment from Schonfeld Strategic Advisors, according to a Bloomberg report citing sources familiar with the matter.
The fund, set to launch in late 2025 or early 2026, will operate under a long-short equity strategy and will trade exclusively for Schonfeld during the initial phase. The New York-based investment firm also retains the option to increase its capital allocation over time.
This investment marks the first external manager commitment under Schonfeld’s Emerging Markets and Delta One Strategy, launched in 2023. The strategy is led by Riccardo Riboldi, based in Dubai, and supported by a team of over 10 professionals specializing in long-short equity, basis trading, and volatility strategies.
While hedge fund startups originating in the UAE remain limited, Newera’s entry—alongside the planned launch of Magellan Capital’s USD 700 million multi-strategy fund—signals growing momentum in the region’s alternative investment space.
