What Lunate does

Lunate is an Abu Dhabi-based alternative investment manager, established in 2023-2024 and operating as an independent, privately held firm headquartered in the Abu Dhabi Global Market (ADGM). The firm manages approximately USD 115 billion in assets under management across six core investment strategies: Fund Investments, Direct and Co-Investments, Long-Term Capital, Special Opportunities, Climate (via ALTERRA), and APAC (via Axight). Its asset class coverage spans private equity, venture capital, senior and mezzanine credit, distressed credit, real assets, GP stakes, and public equity and credit, delivered through commingled funds, customized separately managed accounts, and strategic capital platforms.

The firm's product portfolio is anchored by a leading MENA ETF platform with 20+ ETFs listed on the ADX, DFM, and Deutsche Börse Xetra, including thematic UCITS ETFs under the Boreas brand (AI infrastructure, luxury, quantum computing) and Shariah-compliant products under the Chimera legacy brand. Lunate generates revenue primarily through management fees on private markets mandates, Total Expense Ratios on ETF assets under management, and co-investment returns from strategic capital platforms such as the USD 5 billion GLIDE logistics platform with Blackstone and the USD 1 billion HPS Strategic Solutions Partners Platform. In January 2026, H.E. Mohamed Hassan Alsuwaidi, former Founding Managing Director and Group CEO of ADQ, was appointed Executive Chairman and Managing Partner with a stated objective to double AUM within five years, and the firm has expanded into adjacent verticals including reinsurance (RIQ with IHC and BlackRock), wealth management (Alpheya with BNY Mellon), and employee benefits (Ghaf Benefits).

Name

Lunate

Legal name

Lunate Holding RSC Limited

Website

https://lunate.com

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

251–500 employees

Short description

Lunate is an Abu Dhabi-based independent alternative investment manager managing USD 115 billion across private and public markets, serving institutions, family offices, and corporates through commingled funds, customized SMAs, and the leading MENA ETF platform.

Ownership category

akta.pro rank

Product category

Alternative Asset Management

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Endowment / OCIO-Style Multi-Manager Platforms (FSANAGAG)

akta.pro secondary industries

Managed Account / SMA Multi-Manager Platforms (FSANAGAL), OCIO Providers (Outsourced CIO) (FSAAAGAH), Institutional Consulting RIAs (OCIO/Endowments/Foundations/Pensions) (FSAAACAG)

Keywords

• Alternative asset management
• Private equity investments
• ETF management services
• Institutional fund management
• Sovereign wealth investing

Headquarters

HQ city

Abu Dhabi

HQ country

United Arab Emirates

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Private Markets Investment Management: Lunate generates management fees and performance fees through managing private markets portfolios including fund investments, direct/co-investments, long-term capital, and special opportunities across asset classes such as buyouts, growth equity, venture capital, senior credit, mezzanine credit, distressed credit, real assets, GP stakes, and public equity/credit.
2. ETF Management: Lunate operates as the leading ETF manager in MENA region, offering 20+ conventional and thematic ETFs listed on ADX, DFM, and European exchanges. Revenue derived from Total Expense Ratios (TER) on ETF assets under management.
3. Strategic Capital Platform Investments: Lunate anchors large investment platforms (e.g., HPS Strategic Solutions Partners Platform with $1B+ commitment, GLIDE logistics platform with Blackstone at $5B) generating fee income and co-investment returns.
4. Wealth Management Services: Lunate offers wealth management services through Alpheya platform targeting Gulf region's $1 trillion+ in personal financial assets managed abroad, bringing regional assets back through improved local services.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels5 records

Core offering

Lunate is an Abu Dhabi-headquartered independent alternative investment manager with USD 115 billion in assets under management. It deploys capital across private markets (Private Equity, Venture Capital, Credit, Real Assets, GP Stakes) and public markets via a leading MENA ETF platform, offering customised separately managed accounts, commingled funds, direct/co-investments, long-term capital, and special opportunities strategies.

Product overview

Lunate is an Abu Dhabi-based alternative investment manager with approximately USD 115 billion in assets under management. Its product portfolio spans multiple distinct lines: (1) a comprehensive ETF platform — the leading manager in the MENA region with 19-20 ETFs covering equities, fixed income, and thematic exposures (including the Boreas range of thematic UCITS ETFs listed in Europe); (2) Sharia-compliant investment products including equity ETFs and the Chimera JP Morgan Global Sukuk ETF, certified by Dar Al Sharia and the UAE Higher Sharia Authority; (3) private market solutions through commingled funds, customized portfolios, and SMAs across buyouts, growth equity, venture capital, credit, real assets, GP stakes, and public markets; (4) climate investment via ALTERRA, the world's largest private climate vehicle; (5) APAC exposure through Axight; (6) defined benefit solutions through Ghaf Benefits; and (7) wealth management services via Alpheya. Subsidiaries include Lunate Capital Limited and Axight Capital Limited (regulated by ADGM FSRA) and Lunate Capital LLC (regulated by CMA).

Differentiator

Problem solved

Functional benefit

Brands

• Alterra (ALTÉRRA): World's largest private climate investment vehicle focused on climate-related investments
• Axight
• Boreas ETFs
• Ghaf Benefits

Products and services

• Lunate ETF Platform Comprehensive exchange-traded fund management platform operating 20+ conventional and thematic ETFs listed on ADX, DFM, and European exchanges (Xetra). Covers nearly 300 stocks and 50 fixed-income issuers, positioning Lunate as the leading ETF manager in the MENA region.
• Boreas S&P AI Data, Power & Infrastructure UCITS ETF Thematic UCITS ETF providing exposure to companies developing infrastructure, power, and grid systems for the AI economy. Tracks the S&P Transatlantic AI-Related Data Center & Power Supply Infrastructure Index and holds 35 companies including Oracle, NextEra Energy, Siemens, ABB, and Eaton Corp. Listed on ADX and Xetra.
• Boreas S&P Absolute Luxury UCITS ETF Thematic UCITS ETF investing exclusively in Europe's luxury industry. Tracks the S&P Europe Luxury 35/20 Capped Index, holds 32 companies including Hermes, Ferrari, Burberry, LVMH, and Richemont. Total expense ratio of 49 basis points. Listed on ADX and Xetra.
• Boreas Solactive Quantum Computing UCITS ETF Thematic UCITS ETF within the Boreas range focused on quantum computing. Expected to launch in 2026 as part of the European expansion on Xetra.
• GCC Shariah Dividend ETF First global GCC sharia-compliant dividend ETF tracking the Solactive GCC Shariah Dividend Index. Provides exposure to dividend-paying, sharia-compliant companies across the UAE, Saudi Arabia, and Qatar. Lunate's 20th ETF on ADX.
• Chimera S&P US Shariah Growth ETF (USGRWTH) Sharia-compliant ETF providing access to thirty of the largest US sharia-compliant companies in a single security. Part of Lunate's comprehensive range of Shariah-compliant ETFs.
• Chimera JP Morgan Global Sukuk ETF (SUKUK) SCA-regulated sharia-compliant ETF tracking the J.P. Morgan Global IG Sukuk Index. Provides access to USD-denominated investment-grade sukuks from sovereign, quasi-sovereign, and corporate issuers globally. The only Sukuk ETF compliant with UAE Higher Sharia Authority guidelines.
• ALTERRA (ALTÉRRA) Climate Investment Platform World's largest private climate investment vehicle, established by Lunate and focused on climate-related investments as part of Lunate's broader sustainability strategy.
• Axight APAC Investment Platform Investment platform focused on mid-market opportunities in the Asia Pacific region, managed by Axlight (a private equity fund established by Lunate).
• Ghaf Benefits End-of-Service Benefit (EoSB) Plan Defined benefit end-of-service benefit plan offered by Lunate, providing retirement and benefit solutions for employees in the UAE.
• Alpheya Wealth Management Platform Wealth management platform backed by Lunate and BNY with $300 million in funding, aimed at improving wealth management services in the Gulf region and bringing regional personal financial assets back from overseas. Targets the over $1 trillion in Gulf personal financial assets currently managed abroad.
• Customised Separately Managed Accounts (SMAs) Private markets-focused customised portfolios delivered to institutions, family offices, and corporates across multiple alternative asset classes, seeking superior risk-adjusted returns tailored to client objectives.
• Commingled Funds Private markets commingled funds managed and/or co-managed by Lunate across asset classes such as buyouts, growth equity, venture capital, senior credit, mezzanine credit, distressed credit, real assets, GP stakes, and public equity/credit.

Named customers3 records

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Nine partnerships are on record, tiered core.

• BNY MelloncoreOthers · 4 June 2026BNY Mellon serves as global custodian for Lunate's ETFs on the Abu Dhabi Securities Exchange, including the 20th ETF (GCC Shariah Dividend ETF) tracking the Solactive GCC Shariah Dividend Index.
• NorthwindcoreImplementation/ SI/ Consulting Partner · 15 January 2026Northwind acts as exclusive consultant to Lunate on ETF Strategy, providing product development and research support for the Boreas range of thematic UCITS ETFs. Northwind is led by Geir Espeskog and Christopher Vass.
• Jane StreetcoreOthers · 15 January 2026Jane Street, a global leader in ETF trading and market making, serves as the dedicated market maker for Lunate's European listed ETFs, ensuring liquidity and efficient price discovery.
• AHP Capital/NTree DeutschlandcoreChannel Partner/ Reseller/ Distributor · 15 January 2026AHP Capital/NTree Deutschland appointed as distributor for Lunate's European listed ETFs. European ETF share classes are issued and settled through Euroclear Bank as international central securities depository.
• BNY MelloncoreStrategic or Co-development Partner · 9 December 2025BNY Mellon backs Alpheya, an Abu Dhabi startup aimed at improving wealth management services in the Gulf region. The platform, with $300 million in funding, targets over $1 trillion in personal financial assets currently managed abroad due to outdated local systems.
• Swiss RecoreStrategic or Co-development Partner · 12 November 2025RIQ (AI-native reinsurance platform launched by IHC in partnership with BlackRock and Lunate) partnered with Swiss Re during Abu Dhabi Finance Week to jointly develop AI-enabled reinsurance solutions, capacity solutions, and risk origination opportunities across the UAE region.
• HPS Investment Partners (BlackRock)coreStrategic or Co-development Partner · 30 October 2025Lunate anchored the HPS Strategic Solutions Partners Platform with a projected commitment of at least $1 billion. The platform focuses on private equity and debt investments in large corporates primarily in the US and Europe, aiming to capture opportunities in the growing private credit market.
• BlackstonecoreStrategic or Co-development Partner · 9 October 2025Blackstone and Lunate launched the $5 billion GLIDE (Gulf Logistics and Infrastructure Development) platform focused on developing logistics assets across the GCC region. The platform addresses the infrastructure gap in Grade A logistics facilities, supported by regional market growth projections and economic transformation initiatives.
• RIQcoreStrategic or Co-development Partner · 9 August 2025RIQ is an AI-native reinsurance platform launched by IHC in partnership with BlackRock and Lunate with $1 billion in backing. The platform aims to become a leading global reinsurer focusing on property and casualty insurance globally, with licensing finalized for operations starting 2026.

Scale indicators7 records

Recent moves8 records

Expansion highlights7 records

Direct peers

• Hamilton Lane: Hamilton Lane is a direct peer given its overlapping focus on fund investments, GP stakes, customized private market solutions, and OCIO-style multi-manager mandates for institutional clients - the same architecture Lunate uses for its Fund Investments, Direct & Co-Investments, and SMA platforms.
• StepStone Group: StepStone is a direct peer in OCIO and multi-manager private markets solutions, with a fund investments, co-investment, and secondaries platform that closely mirrors Lunate's Fund Investments, Direct & Co-Investments, and Special Opportunities strategies.
• Partners Group: Partners Group is a direct peer operating a global multi-strategy alternatives platform combining direct investments, fund investments, and customized mandates for institutional and private wealth clients, very similar to Lunate's six core investment strategies.
• Blue Owl Capital: Blue Owl is a direct peer in alternative asset management with a GP stakes and direct private credit franchise, providing a comparable business model to Lunate's GP Stakes and Credit asset classes serving institutional and private wealth clients.
• Ares Management: Ares is a direct peer in alternative credit and multi-strategy asset management, with comparable private credit, private equity, and real assets capabilities that overlap with Lunate's Senior Credit, Mezzanine, and Real Assets strategies.

Broad incumbents

• Brookfield Asset Management: Brookfield is a broad incumbent in alternatives with deep real assets, private credit, and GP stakes offerings globally; it is also Lunate's partner for the La Trobe Financial transaction and serves a similar institutional and sovereign client base.
• Blackstone: Blackstone is a broad incumbent and a key Lunate partner via the $5 billion GLIDE logistics platform; it operates one of the world's largest private equity, real estate, and credit franchises that overlaps with several Lunate asset classes.
• KKR: KKR is a broad incumbent global alternatives manager with private equity, credit, real assets, and capital markets offerings that directly overlap with Lunate's diversified alternative investment strategies.
• Carlyle Group: Carlyle is a broad incumbent global alternatives manager with private equity, credit, and real assets capabilities directly overlapping Lunate's core strategies; Joseph Cha on Lunate's team is a former Carlyle Buyout Group VP.
• Apollo Global Management: Apollo is a broad incumbent alternatives manager with significant private credit, equity, and hybrid strategies that mirror Lunate's credit-heavy and yield-oriented product mix for institutional clients.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UC9RqqHJPaDQ1kno3rifsxtw
• LinkedInlinkedin.com/company/lunateholding/about

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments13 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lunate