Abu Dhabi's Lunate appoints UAE investment minister to spearhead global growth

ABU DHABI, Jan 29 (Reuters) - Abu Dhabi-headquartered Lunate said it had appointed Mohammed Hassan Alsuwaidi, the investment minister of the United Arab Emirates, as executive chairman and managing partner, to lead the investment firm's global growth strategy.

Lunate, which manages $115 billion in assets and bills itself as an independent, commercial, partner-led alternative investment company, said Alsuwaidi will help expand the firm’s international presence and deepen institutional capital relationships, according to a statement.

It wants to more than double assets under management over the next five years.

Alsuwaidi was the founding CEO of ADQ, Abu Dhabi's third largest sovereign wealth fund, with total assets of more than $263 billion across sectors like energy, infrastructure, healthcare, and food and agriculture.

His tenure at the fund has concluded, the statement said.

"His (Mohammed's) ability to build at scale, attract global capital, and drive sustained growth will be critical as Lunate continues to accelerate its development as a global investment firm," Lunate's managing partners Khalifa Al Suwaidi, Murtaza Hussain and Seif Fikry said.

Lunate is a subsidiary of Chimera Investment, part of a vast business empire overseen by Sheikh Tahnoun bin Zayed Al Nahyan, chairman of ADQ, as well as the UAE's national security adviser and brother of UAE President Sheikh Mohamed bin Zayed. Its co-managing partners also own stakes. Sheikh Tahnoun also chairs Abu Dhabi Investment Authority, the emirate's largest wealth fund.

Abu Dhabi contains the vast majority of the UAE's oil reserves and is home to several sovereign wealth funds that collectively manage more than $1.5 trillion in estimated assets.

In October, BlackRock-owned HPS Investment Partners and Lunate announced plans to launch a new platform to invest in large North American and European corporates, to which Lunate would commit at least $1 billion.

(Reporting by Rachna Uppal and Yousef Saba; Editing by Alison Williams)

((rachna.uppal@thomsonreuters.com))