Latest news with #LunateCapital
Gulf Business
3 days ago
- Business
- Gulf Business
SOFAZ invests $50m in ADNOC Gas Pipeline assets via Lunate-managed fund
Image: Supplied The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has invested $50m in ADNOC Gas Pipeline Assets (AGPA) through a specialised investment fund managed by Abu Dhabi-based alternative investment firm Lunate Capital, the parties said in a joint statement on Thursday. The transaction supports SOFAZ's strategy to diversify its portfolio and deepen economic engagement with the Gulf Cooperation Council (GCC), specifically by gaining exposure to resilient, income-generating infrastructure assets. ADNOC Gas Pipeline Assets holds usage rights over one of the UAE's most critical energy assets. ADNOC Gas Pipeline Assets investment holds strategic importance The network spans 982 kilometres and includes 38 pipelines — 12 dedicated to sales gas, 15 for gas injection, and 11 for natural gas liquids. It is governed by a long-term usage agreement with The asset has consistently delivered stable operational performance and predictable income, even during periods of global energy market volatility, according to the companies. 'AGPA stands out as a high-quality, strategically vital infrastructure platform with long-term relevance and strong income-generating potential,' said Farhad Zeynalov, CIO at SOFAZ. 'We are delighted with the opportunity to partner with Lunate on this transaction, which marks a significant step in advancing SOFAZ's investment footprint across the GCC region.' Nabeel Qadir, senior partner at Lunate, said: 'We are excited to provide SOFAZ the opportunity to invest in ADNOC Gas pipelines, a critical asset in the UAE's energy infrastructure, offering highly attractive, risk-adjusted returns. This transaction demonstrates Lunate's ability to deliver customised solutions for our clients and partners, through unique access to global and UAE-specific investment opportunities.' Read:
Hi Dubai
27-02-2025
- Business
- Hi Dubai
MoHRE Hosts Workshops to Promote Savings Scheme for Private Sector Workers
The Ministry of Human Resources and Emiratisation (MoHRE) recently held six workshops to raise awareness about the "Savings Scheme," a voluntary alternative to end-of-service benefits for private sector employees. Conducted over the past two weeks, the workshops were attended by around 500 employers and company representatives. The initiative, launched in collaboration with accredited financial institutions including Lunate Capital, First Abu Dhabi Bank, Daman Investments, and National Bonds Corporation, aims to provide employees with an opportunity to grow their end-of-service gratuity through leading investment funds. These financial institutions, recognized for their expertise in managing funds, are essential in ensuring the effective implementation of the scheme, ultimately promoting financial stability for workers. Ahmed Al Yassi, Acting Assistant Under-Secretary for Labour Protection at MoHRE, emphasized that these workshops align with the Ministry's commitment to fostering sustainable partnerships in the labour market and enhancing the UAE's position as a global leader in labour market practices. The Savings Scheme allows private sector companies to register employees for the system and invest their gratuity funds in various accredited portfolios. Workers can also make additional contributions up to 25% of their salary to boost their savings. The Scheme offers different investment options, including risk-based portfolios and a Shari'a-compliant fund, catering to the diverse needs of employees. Unskilled workers can only enroll in the Capital Guarantee Portfolio, while skilled workers have more flexibility in choosing their preferred investments. News Source: Emirates News Agency
