The UAE is set to launch a $30 billion climate-related investment fund with BlackRock, TPG and Brookfield according to a Financial Times report.
Citing people familiar with the matter, the newspaper said Lunate Capital, an Abu Dhabi-based asset manager set up with $50 billion in assets, will oversee the fund, with at least $5 billion earmarked for investment in Global South countries.
The fund will be launched with American investment company and asset manager BlackRock and TPG and Canadian asset manager Brookfield, the report said.
Lunate, launched earlier this year, is owned by Chimera Investment and its senior management.
(Reporting by Imogen Lillywhite; editing by Seban Scaria)