Abu Dhabi alternative manager Lunate is acquiring a minority stake in hedge fund Brevan Howard and committing an initial $2 billion to launch a joint investment platform in the ADGM.
Lunate manages $110 billion in assets and is part of Sheikh Tahnoun bin Zayed Al Nahyan’s financial network. Brevan Howard, founded in 2002, manages around $34 billion, with an 8.1% average annualised return since 2003.
The partnership will launch new funds focusing on macro and digital asset strategies. Additional capital is expected to follow from both local and international investors. Financial details of the stake itself were not disclosed.
Brevan Howard established its regional headquarters in ADGM in 2023, now its largest by assets managed globally. The firm has increasingly conducted crypto-related trading from the UAE under current regulatory frameworks.
This move fits Abu Dhabi’s broader strategy to bolster its asset management industry. Sovereign-backed entities such as Mubadala have previously acquired major stakes in Fortress and Silver Lake, while the ADGM has attracted global firms like Bridgewater Associates founder Ray Dalio’s family office.
Performance at Brevan has shown signs of recovery. Its flagship Master Fund, which was down nearly 6% in Q1 2025, narrowed losses to about 0.7% by end-June.
