New Delhi, Jan. 30 -- Mohamed Hassan Alsuwaidi, the founding managing director and group chief executive officer of sovereign wealth fund Abu Dhabi Developmental Holding Company (ADQ), is stepping down from his role as the emirate moves to consolidate its assets under a newly created sovereign investment vehicle.
Alsuwaidi has been appointed executive chairman and managing partner of Lunate, a global investment firm with more than $115 billion in assets under management and owned by Chimera Investments. He will take charge of the Abu Dhabi-based firm after completing his tenure at ADQ.
The move follows a resolution issued by the Supreme Council for Financial and Economic Affairs (SCFEA), which oversees Abu Dhabi's financial, investment, economic, petroleum and natural resources affairs, to consolidate ADQ's assets and investments into a recently established state entity, L'imad Holding Company, according to Abu Dhabi's media office.
L'imad, launched in 2025, came into the spotlight in December as one of the Gulf backers of Paramount's $108-billion bid for Warner Bros. The platform is expected to have differentiated operational, industrial and technological capabilities, alongside investment platforms spanning both private and public markets. It will be chaired by Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and eldest son of UAE President Sheikh Mohammed.
The resolution aligns with the Abu Dhabi government's vision to create a "sovereign investment powerhouse with a diversified asset base", supporting its policy on sustainable investment, SCFEA said.
ADQ managed assets worth about $263 billion as of June 30, 2025, across sectors such as energy and utilities, transport and logistics, food and agriculture, healthcare and life sciences, financial services, infrastructure and critical minerals, and sustainable manufacturing.
"Building ADQ from inception into a globally significant investment institution has been one of the most meaningful chapters of my professional life," Alsuwaidi said.
In his new role, he will work with Lunate's partners and board to expand the firm's international presence, deepen institutional capital relationships, and drive its next phase of growth across private and public markets.
"It is an honor to lead the management team to accelerate the development of a global platform that delivers superior risk-adjusted returns for its clients and sustained value for shareholders, while reinforcing Abu Dhabi's position as a global and leading financial hub," he added.
Lunate was set up in September 2024 by Abu Dhabi-based Chimera Investments to target global opportunities across private equity, venture capital, private credit, real assets, public equities, and public credit markets. It aims to deploy capital through a combination of strategies such as limited partnership, co-investments, and direct investment opportunities. It plans to expand globally and open offices in North America, Europe and Asia.
In May 2025, it said it would acquire a strategic stake in global wealth manager Azura Partners, marking its entry into wealth management. Lunate has set a goal to more than double its assets under management over the next five years.
Published by HT Digital Content Services with permission from VC Circle.