The Lunate Middle East Investment Fund is considering raising $5 billion in financing for potential deals. This is reported by foreign media.
Lunate plans to attract international and regional banks to finance the placement of shares in order to increase the total amount of assets under management, which currently stands at $105 billion.
Negotiations with banks are ongoing and do not guarantee the conclusion of a final agreement.
Financing through the placement of shares allows investment companies to accelerate the conclusion of transactions and reduce the notification period from 10 days to one day.
Lunate aims to become a key player in the Middle East investment market and has already concluded a large number of deals since its inception in 2023.
In particular, in early 2024, Lunate signed an agreement to acquire 40% of the shares of the Adnoc oil pipeline network from BlackRock Inc. and KKR & Co., as well as an agreement to merge with the financial company Olayan from Saudi Arabia to buy out 49% of the shares of ICD Brookfield Place, the largest office tower in the financial center of Dubai (UAE).
In addition, Lunate plans to acquire shares of Global Infrastructure Partners and the Italian Snam SpA in the pipeline division of Abu Dhabi National Oil Co.
The Lunate Fund was created by a division of the conglomerate International Holding Co. in 2023. Lunate specializes in investments in venture capital, private loans, real assets, government stocks and government lending. The headquarters is located in Dubai (UAE).
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