The launch comes as the UAE attempts to bolster its credentials as host of COP28 on the first days of the UN summit.
Lunate Capital, a new Abu Dhabi-based asset manager set up with $50bn in assets, will oversee the fund with at least $5bn earmarked for investment in Global South countries, three people involved in discussions said.
The UAE is drawing on vast resources amassed as one of the world’s biggest oil and gas producers. The nation sits on assets worth $2.5tn across its sovereign wealth fund, pension funds and central bank, according to data provider Global SWF.
No comments:
Post a Comment