Abu Dhabi-based alternatives manager Lunate is acquiring a minority ownership stake in hedge fund giant Brevan Howard, marking its first move into hedge funds as it broadens its product range for clients in the GCC and globally.
As part of the deal, the two firms will establish a new investment platform domiciled in the Abu Dhabi Global Market (ADGM), subject to regulatory approval.
The platform will launch with an initial $2bn long-term commitment from Lunate, creating a suite of funds exclusive to the partnership. These vehicles will build on Brevan Howard’s strategies in macro trading and digital assets, with plans to attract further capital from both regional and international investors.
‘Our new partnership with Brevan Howard marks our expansion into hedge funds and reflects our commitment to work with the best investment firms in the world, offering our clients access to unique strategies to further diversify their portfolios,’ Khalifa Al Suwaidi, managing partner at Lunate, said in a statement.
The platform will leverage ADGM’s infrastructure, connectivity and progressive regulation to support growth.
Lunate, established in 2023, manages $110bn in assets and counts sovereign wealth fund ADQ as an anchor client. It is a subsidiary of Chimera Investment.
Brevan Howard, which manages $34bn, opened its regional headquarters in ADGM in 2023, and now its largest office globally by assets under management.
