Abu Dhabi-based alternative asset manager Lunate has reached an agreement to take a minority stake in Azura Partners.
Azura works with high-net-worth and ultra-high-net-worth individuals, entrepreneurs, and family offices globally.
The acquisition will be executed through Lunate Holding RSC.
The funding will allow Azura to enhance its team, adopt advanced technologies, and “scale” its AUM.
It will help the firm widen its offerings, with a particular focus on private market investment access.
The wealth manager will continue to function autonomously under its current leadership.
Established in 2019 by former Julius Baer executive Ali Jamal, Azura currently oversees $5bn in assets. It operates across seven international locations, including London, Geneva, and Singapore.
The firm has 65 financial professionals, delivering tailored investment and advisory services.
Additionally, Azura will shift its main office from Monaco to Abu Dhabi. The move is designed to utilise the benefits of the Abu Dhabi Global Market’s legal and regulatory framework.
Lunate’s investment aligns with its strategy to tap “high-growth” segments including wealth management.
Wealth in the Middle East is projected to grow at 9.2% annually through to 2030. This pace surpasses the global average and points to rising regional demand for wealth solutions. Azura’s model aims to address this increasing need across the market.
Lunate managing partner Khalifa Al Suwaidi said: “Lunate’s investment in Azura Partners marks our entry into the wealth management space and reflects our commitment to further develop the suite of solutions and products that we can offer our growing client base.
“The partnership, moreover, underpins our strategy of expanding Lunate’s footprint across the investor value chain.”
Completion of the deal is contingent on regulatory clearance.
Azura Partners founder, chairman, and CEO Ali Jamal said: “With its dynamic management team and vision, Lunate is ideally placed to drive Azura Partners’ ambitious future. Abu Dhabi has become a home for ultra-high net worth individuals and a hub for family offices – its emergence as a leading financial centre presents immense opportunities and synergies.
“This endorsement from Lunate aligns with our vision of becoming a leading global wealth manager and reflects our commitment to continuously enhance our offering, ensuring we provide our clients with the flexible, tailored solutions they need to confidently grow, manage and protect their wealth.”
“Lunate picks stake in wealth manager Azura Partners” was originally created and published by Private Banker International, a GlobalData owned brand.
