Abu Dhabi's Chimera, partners launch alt investor Lunate with over $50 bln AUM

Chimera Investment

15/09/2023 08:40

DUBAI, Sept 15 (Reuters) - Lunate, a newly set up Abu
Dhabi-based alternative investment manager, said on Thursday it
was launching with over $50 billion in assets under management
(AUM) and a focus on private markets.
    The firm is owned by its senior management and Chimera
Investment, part of a vast business empire overseen by Sheikh
Tahnoun bin Zayed Al Nahyan, the United Arab Emirates' national
security adviser and brother of UAE President Sheikh Mohammed
bin Zayed.
    Lunate is led by Khalifa Al Suwaidi, Murtaza Hussain and
Seif Fikry, its co-managing partners. 
    "The creation of Lunate follows a multi-party effort to
establish an independent investment manager of scale and
breadth, headquartered in Abu Dhabi and serving global markets,"
Lunate said in a statement.
    "Lunate will invest globally through a combination of
Limited Partner (LP) commitments, coinvestments and direct
investments across private equity, venture capital, private
credit, real assets, public equities, and public credit."
    It has 150 employees and aims to expand globally and set up
offices in North America, Europe and Asia.
    Lunate will also invest in public markets alongside its
focus on the private space and will target institutional
investors and family offices, it said, adding it was one of the
Middle East and North Africa's largest alternative investment
managers. 
    Based in Abu Dhabi Global Market, the emirate's financial
centre, it has signed long-term separate managed accounts (SMAs)
with various clients. The firm will manage their existing assets
and said they have committed to deploying new capital. It did
not identify the clients.
    Chimera is part of Sheikh Tahnoun's private investment firm
Royal Group, which is majority owner of the UAE's biggest listed
firm, International Holding Company. Two of IHC's subsidiaries,
Alpha Dhabi and Multiply Group, are the second- and
third-largest listed firms on the Abu Dhabi Securities Exchange.
    Sheikh Thanoun also chairs the Abu Dhabi Investment
Authority, estimated by wealth fund tracker GlobalSWF to manage
$993 billion in assets, and ADQ, Abu Dhabi's third-largest
wealth fund.
    ADQ and IHC said in March they would create a multi-asset
class investment manager with global private equity firm General
Atlantic as a strategic partner and investor.

 (Writing by Tala Ramadan; editing by Yousef Saba and Jason
Neely)
 ((Tala.Ramadan@thomsonreuters.com))