- Chimera Investment, a private organization based in Abu Dhabi, has initiated the establishment of an independent alternative investment firm called Lunate. Lunate boasts an impressive portfolio of over $50 billion in assets under management, strategically positioned to explore global investment opportunities. This newly established company, headquartered within the Abu Dhabi Global Market, will strategically target investment opportunities worldwide.
- Lunate's focus encompasses various domains, including private equity, venture capital, private credit, real assets, public equities, and public credit markets, as detailed in a statement released on Friday. Ownership of Lunate will be jointly held by Chimera Investment and the senior management team of Lunate. With plans set in motion for a fourth-quarter launch, Lunate has committed to delivering diversified investment solutions across multiple asset classes to its client base. These clients include institutional investors, pension funds, family offices, and other investment entities.
Why it matters
Abu Dhabi Global Market (ADGM), recognized as the region's fastest-growing financial hub, has recorded an outstanding 35% growth in assets under management during the first half of 2023. Additionally, assets under management (AUMs) in the GCC are anticipated to surpass the global average, with onshore assets projected to reach approximately $500 billion by 2026, up from $400 billion at the conclusion of 2022, according to a report by PwC unit Strategy& released last month.
