Abu Dhabi’s $105 Billion Lunate Eyes Asia Deals With New Venture - Bloomberg
Abu Dhabi’s Lunate has launched a new venture focused on the Asia-Pacific region, part of the $105 billion asset manager’s efforts to boost its exposure to faster-growing markets.
The new investment fund, Axight, will largely focus on private equity deals in APAC, according to people familiar with the matter who declined to be identified because the information is confidential.
Axight will look to raise third-party capital over time, they said, without disclosing the initial size of the venture.
Representatives for Lunate declined to comment.
Lunate is a subsidiary of Chimera Investment LLC, and sovereign wealth fund ADQ is an anchor client. Both Chimera and ADQ are part of Abu Dhabi royal Sheikh Tahnoon bin Zayed Al Nahyan’s business empire.
The private markets-focused investment manager previously established Alterra, a climate investment fund, with an initial commitment of $30 billion from the United Arab Emirates.
It took over the management of artificial intelligence firm G42’s China-focused fund, with stakes in units of technology companies including ByteDance Ltd. and JD.com Inc., Bloomberg News reported in July.
Lunate has sealed several other deals since its inception in 2023, including an investment in the glitzy Dubai office tower ICD Brookfield Place. It’s also agreed to buy a 40% stake in Abu Dhabi National Oil Co.’s oil pipeline network, and acquire a minority stake in Adnoc’s gas pipeline business.
Abu Dhabi has launched multiple investment vehicles in the last couple of years including AI and advanced technology investor MGX, and XRG for international natural gas, chemicals and low-carbon energy assets.
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