Lunate, Abu Dhabi's newest sovereign wealth fund, is restructuring its executive leadership and reorganising parts of its investment portfolio. The fund, which manages $300 billion in assets, is preparing to play a more central role in the emirate's ambitions to boost deal-making, according to Bloomberg.
According to informed sources, Lunate Holding has partnered with Boston Consulting Group to recruit high-level talent and professionals.
The sources added that the fund is also reviewing some existing roles and has asked certain executives who transferred from ADQ following an acquisition earlier this year to reapply for their positions.
After being established last year, Lunate quickly absorbed ADQ — one of the world's fastest-growing sovereign investors — along with a diverse array of assets ranging from a stake in auction house Sotheby's to Etihad Airways and other prominent domestic holdings.
Lunate not only inherited these assets but also received a broader mandate, which is expected to place it at the heart of Abu Dhabi's efforts to expand its investments in the infrastructure sector, as well as to clinch deals in China and the United States.
For Wall Street banks and private equity firms, the ongoing restructuring process offers a window into the fund's strategic direction.
The reorganisation at Lunate — one of the world's largest concentrations of capital — encompasses both investment and operational roles, according to people familiar with the matter. Although many employees have moved to the newly merged entity, management is seeking to streamline reporting lines and eliminate duplication of responsibilities.
Some individuals noted that external partners who have long-standing relationships with ADQ may in turn face the prospect of having to rebuild their ties with new decision-makers inside Lunate.