Key Takeaways
- • Abu Dhabi investment house Lunate, which oversees $110 billion in assets, has initially invested $2 billion in hedge fund firm Brevan Howard, taking a minority stake, according to the company's statement.
- • The partnership will create a suite of new funds exclusive to Lunate that will use Brevan Howard's existing strategies, including macro and digital assets, with the platform domiciled in the Abu Dhabi Global Market (ADGM).
- • Brevan Howard manages $34 billion in assets, and additional capital is expected to be raised over time from local and international investors.
- • The deal marks Lunate's expansion into hedge funds and reflects a wider pattern of Gulf sovereign-linked capital buying into wealth management, banking and investment firms.
Summary
Lunate, the Abu Dhabi-based investment house overseeing $110 billion in assets, has initially invested $2 billion in hedge fund firm Brevan Howard, according to Lunate's statement. Lunate will take a minority stake in Brevan Howard, and the partnership will form a platform to be domiciled in the Abu Dhabi Global Market. Lunate manages assets for Abu Dhabi sovereign investor ADQ and others, and is part of a business empire steered by Sheikh Tahnoun bin Zayed Al Nahyan, the UAE's national security advisor, per Reuters.
The new partnership will involve a suite of funds exclusive to Lunate that will use Brevan Howard's existing strategies and investment capabilities, including macro and digital assets. Brevan Howard, which has $34 billion in assets under management and has been operating for more than two decades, set up a regional headquarters in ADGM in early 2023; it is the firm's largest office by assets managed globally. Additional capital is expected to be raised over time from local and international investors. Lunate's managing partner Khalifa Al Suwaidi said the partnership "marks our expansion into hedge funds," while Brevan Howard founder Alan Howard described it as a long-term commitment to the region.
The deal fits a broader pattern. Lunate took a position in Monaco-headquartered wealth manager Azura Partners in May 2025. In May 2025, International Holding Co. entered a $1 billion reinsurance venture with BlackRock, and in February 2025 PATRIZIA obtained a licence in Abu Dhabi to arrange and advise on investments. Gulf sovereign funds have also bought into Western financial firms, including Mubadala's 68 per cent stake in Fortress Investment Group (May 2024) and a consortium including an Abu Dhabi Investment Authority unit that acquired Hargreaves Lansdown (August 2024). Such involvement carries risks, as Qatar Investment Authority examined in 2023 how to respond to losses from Credit Suisse's takeover by UBS.
The new partnership will involve a suite of funds exclusive to Lunate that will use Brevan Howard's existing strategies and investment capabilities, including macro and digital assets. Brevan Howard, which has $34 billion in assets under management and has been operating for more than two decades, set up a regional headquarters in ADGM in early 2023; it is the firm's largest office by assets managed globally. Additional capital is expected to be raised over time from local and international investors. Lunate's managing partner Khalifa Al Suwaidi said the partnership "marks our expansion into hedge funds," while Brevan Howard founder Alan Howard described it as a long-term commitment to the region.
The deal fits a broader pattern. Lunate took a position in Monaco-headquartered wealth manager Azura Partners in May 2025. In May 2025, International Holding Co. entered a $1 billion reinsurance venture with BlackRock, and in February 2025 PATRIZIA obtained a licence in Abu Dhabi to arrange and advise on investments. Gulf sovereign funds have also bought into Western financial firms, including Mubadala's 68 per cent stake in Fortress Investment Group (May 2024) and a consortium including an Abu Dhabi Investment Authority unit that acquired Hargreaves Lansdown (August 2024). Such involvement carries risks, as Qatar Investment Authority examined in 2023 how to respond to losses from Credit Suisse's takeover by UBS.
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