AGL Credit Management has received approval from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) to conduct regulated financial activities in the international financial centre.
The approval supports the corporate credit specialist’s expansion across the Gulf Cooperation Council. It follows the opening of AGL’s ADGM office in August 2025 and the establishment of AGL Credit Management GCC Limited.
AGL has appointed Michael Phillips as managing director for its GCC operations. Based in ADGM, Phillips will focus on institutional investor relationships and strategic partnerships across the region. He reports to Kassem Shafi, AGL’s head of investor solutions and capital formation.
Phillips previously served as head of corporate credit at the Abu Dhabi Investment Council and held a senior credit role at the Teacher Retirement System of Texas.
Founded by Peter Gleysteen in 2019 with support from an Abu Dhabi Investment Authority subsidiary, AGL now manages $25B in assets, according to the announcement. The firm said its relationship with the sovereign wealth fund began with a $500M commitment to its strategies at launch.
AGL also signed a private credit cooperation agreement with Barclays in 2024 and received a strategic investment from Goldman Sachs Alternatives in March 2026.
Source: Fintech News
