Abu Dhabi's Lunate to acquire stake in wealth management firm Azura Partners
Abu Dhabi's Lunate, a global alternative investment manager with more than US$110 billion in assets under management, will acquire a strategic stake in Azura Partners, the fast-growing Monaco-based global wealth manager established by former Julius Baer wealth manager Ali Jamal.
Since its inception, Azura has grown rapidly and now manages US$5 billion in AUM, with offices in Monaco, Geneva, London, New York, Miami, Singapore and Dubai. The company serves ultra-high-net-worth (UNHW) and high-net-worth (HNW) individuals, entrepreneurs and single-family offices.
Lunate invests in Azura
As part of the deal, Azura will move its headquarters to ADGM in Abu Dhabi, benefitting from its 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 per cent CAGR till 2030, outperforming the global average of 7 per cent CAGR.
Lunate Holding RSC's investment 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 Jamal and the current management team retaining operational control.
Khalifa Al Suwaidi, Managing Partner at Lunate, commented: '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 underpins our strategy of expanding Lunate's footprint across the investor value chain.'
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 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's investment marks its continued expansion into adjacent high-growth business areas such as wealth management. With global wealth estimated to reach US$609 trillion in 2026, individual investors across the world are increasingly seeking alternative investment solutions. The partnership with Azura aims to capitalise on this trend.
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.'
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