Lunate targets doubling of assets under new leadership

The founding managing director and CEO of Abu Dhabi sovereign fund ADQ has been given a mandate to drive the growth of the emirate’s $115 billion alternative investment company, Lunate.

Lunate is majority-owned by Chimera Investment LLC, which is overseen by Sheikh Tahnoon bin Zayed Al Nahyan, the UAE’s national-security adviser and brother of the UAE president, Sheikh Mohamed bin Zayed Al Nahyan. Sheikh Tahnoon is also chairman of Emirati technology investor MGX.

Mohamed Hassan Alsuwaidi will lead Lunate as executive chairman and managing partner at a pivotal stage in its development, the company said in a statement, as it aims to become a globally leading, institutionally led asset manager.

He will work with Lunate’s partners and board to expand its international presence, deepen institutional capital relationships, and drive the next phase of growth across private and public markets. 

Lunate has set a target of more than doubling assets under management over the next five years, the statement said.

“When we launched Lunate, we set out with a clear ambition to build a long-term, independent asset management business led by a select group of partners,” Alsuwaidi said.

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Lunate invests across the entire private market spectrum, including buyouts, growth equity, early and late-stage venture capital, private credit, real assets, and public equities and public credit, according to its website.

In November the company was reported to be in talks to commit $1 billion to MGX, launched in March 2024 by wealth fund Mubadala and AI company G42.

In the past seven years, Alsuwaidi has led the rapid transformation of ADQ into one of the world’s largest sovereign investment companies, overseeing the growth and tripling of assets to over $263 billion. ADQ invests across key sectors including energy, infrastructure, healthcare, food and agriculture, transport and logistics, manufacturing and financial services.    

The Abu Dhabi crown prince, Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, will chair the newly launched L’imad Holding Co, AGBI reported earlier this month.

L’imad manages assets across various sectors within the UAE and internationally, including infrastructure and real estate, financial services and asset management, advanced industries and technologies, urban mobility and smart cities.