Abu Dhabi investment manager Lunate has appointed UAE Minister of Investment Mohamed Alsuwaidi as its executive chairman and managing partner.
Mr Alsuwaidi took on the role after concluding his tenure at Abu Dhabi’s sovereign wealth fund ADQ as its founding managing director and chief executive, Lunate said in a statement on Thursday.
For the past seven years, he led the transformation of ADQ into one of the world’s largest sovereign investment platforms, overseeing its growth and the tripling of total assets to more than $263 billion across key sectors including energy, infrastructure and health care, the statement said. Under his guidance, ADQ also expanded its international footprint across six continents through key investments.
“Building ADQ from inception into a globally significant investment institution has been one of the most meaningful chapters of my professional life,” Mr Alsuwaidi said.
Lunate, which has more than $115 billion assets under management, has set a target to more than double AUM over the next five years. It has interests in private equity, venture capital, private credit, real assets, public equities and public credit markets, and has formed several funds and investment partnerships in recent months to expand its asset base and suite of investment products.
