Lunate provides strategic growth capital to UHNW wealth manager Azura Partners
Azura Partners to remain independent, with management retaining operational control
Abu Dhabi, Monaco – Lunate, an Abu Dhabi-based global alternative investment manager with more than USD 110 billion in assets under management ('AUM'), has agreed to acquire a strategic stake in Azura Partners ('Azura'), a global wealth manager serving ultra-high net worth ('UNHW') and high-net-worth (HNW) individuals, entrepreneurs and single-family offices.
The investment, made by Lunate Holding RSC, will enable Azura Partners to scale its AUM, hire top talent, implement best-in-class technology and expand its product offerings, including enhanced access to private market opportunities for its clients. Azura will remain independent, maintain its open architecture approach, with its founder and current management team retaining operational control.
Azura was founded in 2019 by Ali Jamal, a seasoned wealth manager with experience at top-tier global firms, including Julius Baer. The firm has seven global offices including Monaco, Geneva, London, New York, Miami, Singapore and Dubai. Since its inception, Azura has grown rapidly and now manages USD 5 billion in AUM, offering clients investment management and advisory services, private wealth solutions, and strategic opportunities. Azura's clients are supported by a team of 65 experienced professionals.
Lunate's investment in Azura marks its continued expansion into adjacent high-growth business areas such as wealth management. With global wealth estimated to reach USD 609 trillion in 2026 [1], individual investors across the world are increasingly seeking alternative investment solutions, fueling the democratization of private markets. Lunate's partnership with Azura aims to capitalize on this trend and the growth trajectory of the wealth management industry.
Azura, currently headquartered in Monaco, will redomicile and establish new headquarters in Abu Dhabi, benefitting from ADGM's world-class infrastructure and regulatory environment. Azura's advisory-led model will be a strong addition to the Middle East's relatively underserved market, where wealth is set to grow at a 9.2% CAGR till 2030, outperforming the global average of 7% CAGR.
Khalifa Al Suwaidi, Managing Partner at Lunate, 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.'
Murtaza Hussain, Managing Partner at Lunate, said: 'We are excited by the opportunity in the global wealth management industry. Our partnership with Azura aims to use our capital and expertise to strengthen and grow a best-in-class wealth manager, able to service increasingly sophisticated clients both in the region, and across the world. With demand for alternative investments on the rise, Azura will be well-placed to offer HNW and UHNW investors enhanced access to opportunities in private markets.'
Ali Jamal, Founder, Chairman, and CEO at Azura Partners, added: 'Lunate's investment marks a significant milestone for Azura Partners. 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 center 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.'
The transaction is subject to applicable regulatory approvals in relevant jurisdictions.
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