Lunate

لونيت · United Arab Emirates · Middle East · Founded 2023 · Fund of funds or co-investment platform · Not an IFSWF member

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Focus

Lunate: what it invests in

TechnologyRenewables and climateHealthcare and life sciencesFinancial servicesReal estateTransport and logistics

Private equityVenture capitalPrivate creditInfrastructureReal estatePublic equities

Geography Global

Scale

Lunate: how big it is, and on what basis

More than USD 115B

Assets under managementAs of 2026-01-29

In US dollars: about USD 115B. Firm states assets in US dollars.

Transparency

Lunate: what it publishes

4.0 of 10 Band 2 of 5

Published 3 · Partly 2 · Not published 5

Our 10 item score. It measures what is public, not how well a fund is run.

Assets under managementS6: More than USD 115B (January 2026); As of 2026-01-29
Deals since inceptionS1: 100+ (over 70 direct or co-investments); As of 2025-11-18
Raised in 2024S1: About USD 17B; As of 2025-11-18
Fund manager networkS2: 80+
ProfessionalsS2: About 200
Five-year goalS3: More than 2x AUM; As of 2026-01-30
Transparency scoreS2: 4.0 of 10

At a glance. Lunate is an Abu Dhabi alternative investment firm, set up in 2023 with state-linked anchor capital, that manages more than USD 115 billion. It invests mainly in private markets as a fund investor, direct and co-investor, and runs platforms such as Alterra for climate and Axight for Asia Pacific. Clients include institutions, family offices and corporates; it aims to more than double assets within five years. S6 S2 S1

Key points

Raised about USD 17 billion for flagship funds in 2024, about 80 percent of it invested, and had deployed about USD 13.5 billion by late 2025. S1
More than 100 deals since inception: over 70 direct or co-investments and more than 30 fund commitments. S1
About 200 professionals, including more than 90 on the investment side, and a network of 80 or more fund managers. S2
Four flagship strategies: fund investments, direct and co-investments, long-term capital and special opportunities. S2 S1
Former ADQ chief executive Mohamed Hassan Alsuwaidi became Executive Chairman and Managing Partner in January 2026. S6
Files quarterly 13F reports with the SEC for its US-listed positions, the first for June 2026. S5

Interesting facts

The name is said "Lu-net" and refers to an arc-shaped tool used in the region. S2
It describes Alterra as the largest private climate investment vehicle in the world. S2
Its Executive Chairman is also the UAE Minister of Investment. S4

Mandate and goals

Lunate aims to build a long-term, independent asset management business led by a small group of partners, investing for clients across private and public markets. S6 S2

More than double assets under management within five years. S6 S3
Serve institutions, family offices and corporates through pooled funds, custom portfolios and separate accounts. S2
Build specialist platforms in climate (Alterra) and Asia Pacific mid-market (Axight). S2

How it invests

Industries	Technology, Renewables and climate, Healthcare and life sciences, Financial services, Real estate, Transport and logistics, Infrastructure and utilities. Sector agnostic S2 S1
Asset classes	Private equity, Venture capital, Private credit, Infrastructure, Real estate, Public equities, Fixed income S2
Stages	Venture, Growth, Buyout, Credit, Infrastructure, Real estate, Public markets S2
Geography	Global. Global, with Axight focused on Asia Pacific mid-market deals S2
Direct / through funds / co-invest	Yes / Yes / Yes S2 S1
Ticket size	No ticket size is published. S2
Deal sizes seen	Deals around EUR 6.1B (Neoen) and EUR 16B (Opella) in total value, as co-investor
External managers	Works with more than 100 general partners, including BlackRock, Blackstone, CVC and Brookfield, and has niche partnerships with Blackstone, Blue Owl, Brookfield and HPS S1 S2
Co-investment programme	Direct and co-investment is one of four flagship strategies, with more than 70 such deals S1

Published criteria

Asset classes: buyouts, growth equity, venture, senior, mezzanine and distressed credit, real assets, GP stakes, and public equity and credit. S2
Solutions: commingled funds, customised separate accounts, partnerships and an end-of-service benefits plan. S2

Past investments

Year	Investment	Type	Sector	Stage	Amount
2025	Brevan Howard. Minority stake in the hedge fund manager. S1	Direct investment	Financial services	Growth	Not published
Not published	OpenAI. Investment in the AI developer. S1	Direct investment	Technology	Growth	Not published
Not published	CoreWeave. Senior and mezzanine debt to the AI cloud provider. S1	Direct investment	Technology	Credit	Not published
Not published	Opella (Sanofi consumer health). Backed CD&R's buyout of Sanofi's over-the-counter business. S1	Co-investment	Healthcare and life sciences	Buyout	EUR 16B (total deal)
Not published	Neoen. Partner to Brookfield on the take-private of the renewable power producer. S1	Co-investment	Renewables and climate	Buyout	EUR 6.1B (total deal)
Not published	Logistics platform with Blackstone. Logistics property platform built with Blackstone. S1	Joint venture or partnership	Transport and logistics	Real estate	USD 5B (platform)
Not published	ICD Brookfield Place. Stake in the Dubai office tower. S1	Direct investment	Real estate	Real estate	Not published
Not published	National Stock Exchange of India. Stake in the exchange operator. S1	Direct investment	Financial services	Growth	Not published
Not published	CVC Capital Partners. Took part in the IPO of the private markets firm. S1	Direct investment	Financial services	Public markets	Not published

Case studies

Opella: co-investing in a large carve-out S1

What: Backed CD&R's buyout of Sanofi's over-the-counter consumer health business.
When: Disclosed November 2025
Size: EUR 16B total deal value
Why: Shows the co-investment model: large tickets beside a lead buyout firm.

Neoen: partnering on a climate take-private S1

What: Partnered with Brookfield to take the French renewable power producer private.
When: Disclosed November 2025
Size: EUR 6.1B total deal value
Why: Combines its climate focus with a large global partner.

Brevan Howard: buying into a manager S1

What: Took a minority stake in the hedge fund firm.
When: August 2025
Size: Not published
Why: GP stakes are a named Lunate asset class and deepen manager relationships.

Investment process

A six-member investment committee of three senior partners and three managing partners approves deals. The four partners also sit on the Supervisory Committee and the Board. S1 S4

Committee	Role
Investment Committee	Six members: three senior partners and three managing partners S1
Supervisory Committee	Partner-level oversight S4
Board of Directors	Partners sit on the board of Lunate Holding S4

Source through a network of more than 100 general partners and direct relationships. S1
Allocate through fund commitments, co-investments, long-term capital or special opportunities. S2
Investment Committee approval. S1

How to approach: Clients and partners use the contact page. Lunate serves institutions, family offices and corporates as clients. S8 S2

Size and returns

Headline size: More than USD 115B (Assets under management, as of 2026-01-29) S6
In US dollars: about USD 115B. Firm states assets in US dollars.
Raised for flagship funds in 2024: About USD 17B (Committed or authorised capital, as of 2025-11-18) S1
Deployed by November 2025: About USD 13.5B (Portfolio value, as of 2025-11-18) S1
Returns: the fund does not publish a return figure.
Staff: About 200 professionals, more than 90 in investment roles S2

Leadership

Name	Title	Since
Mohamed Hassan Alsuwaidi	Executive Chairman and Managing Partner; UAE Minister of Investment S4 S6	2026-01
Khalifa Al Suwaidi	Managing Partner; fund investments, partnerships and strategy S4	Not published
Murtaza Hussain	Managing Partner; direct and co-investments S4	Not published
Seif Fikry	Managing Partner; public markets strategy and operations S4	Not published

Governance and transparency

Legal basis: Lunate Holding RSC Limited; subsidiaries licensed by the ADGM Financial Services Regulatory Authority and the UAE Securities and Commodities Authority S5 S4
Oversight: Partner-led board; majority owner Chimera Investment LLC S3 S4
Lunate Capital Ltd files Form 13F with the SEC for US-listed holdings. S5
No audited accounts or Santiago Principles assessment are published, as it is a private manager. S2

Transparency score: 4.0 of 10 (band 2 of 5). Our own 10-item rubric; see the methodology page.

Published: holdings or deal list, named leadership, regular reporting schedule. S1 S4 S5 S7
Partly published: total assets, geographic or sector split. S2 S6
Not published: annual return, long-term returns, asset allocation, audited financial statements, governance and mandate documents. S2

History

Date	Event
2023	Lunate set up in Abu Dhabi. S1
2024	About USD 17B raised for flagship funds. S1
2025-08	Minority stake in Brevan Howard. S1
2025-11	Profile reports USD 13.5B deployed across more than 100 deals. S1
2026-01-29	Mohamed Hassan Alsuwaidi named Executive Chairman. S6
2026-07-23	First Form 13F filed, for the June 2026 quarter. S5

For family offices

Family offices are a named client group. Lunate offers them commingled funds, custom separate accounts and partnerships, plus listed ETFs. S2 S7

Invest in Lunate commingled funds across buyout, growth, venture, credit and real assets. S2
Set up a customised separately managed account. S2
Co-invest through its direct and co-investment strategy. S2
Commingled funds: Institutions, family offices and corporates https://www.lunate.com/en/who-we-are/ S2
Customised separately managed accounts: Larger clients wanting a tailored portfolio https://www.lunate.com/en/who-we-are/ S2
Lunate ETFs: Investors seeking listed exposure, such as the Boreas natural resources dividend ETF https://www.lunate.com/en/news-and-insights/ S7
Ghaf Benefits: Employers needing an end-of-service benefits plan S2

Reports

Form 13F, quarter to 30 June 2026: https://www.sec.gov/Archives/edgar/data/2056786/000101143826000429/0001011438-26-000429.txt S5

Common questions

How big is Lunate?

More than USD 115 billion of assets under management, as of January 2026. S6

Is Lunate a sovereign wealth fund?

No. It is a partner-led asset manager in Abu Dhabi, majority owned by Chimera Investment, with state-linked anchor investors. S3

Who leads Lunate?

Mohamed Hassan Alsuwaidi, Executive Chairman and Managing Partner since January 2026. S6

Can a family office invest with Lunate?

Yes. Family offices are a named client group for its funds, separate accounts and partnerships. S2

Does Lunate publish returns?

No return figures or audited accounts are published. S2

Abu Dhabi Investment Authority (ADIA) United Arab Emirates (Abu Dhabi) · About USD 1.1T, estimate
Kuwait Investment Authority Kuwait · About USD 1T, estimate
Public Investment Fund (PIF) Saudi Arabia · SAR 3,396B
Qatar Investment Authority (QIA) Qatar · About USD 580B, estimate
SAMA Foreign Holdings Saudi Arabia · SAR 1,827B
Investment Corporation of Dubai (ICD) United Arab Emirates (Dubai) · AED 1,680B

All sovereign wealth funds in Middle East · All fund of funds or co-investment platforms · All funds in United Arab Emirates

Sources

Disclaimer

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