DUBAI  - Abu Dhabi conglomerate International Holding Company (IHC) on Tuesday announced it had established 2PointZero, a holding company which will have more than 100 billion dirhams ($27 billion) in assets.

2PointZero's portfolio will include alternative asset manager Lunate, which last month launched a $30 billion climate fund dubbed ALTÉRRA at COP28, in collaboration with global asset managers BlackRock, Brookfield and TPG.

International Resources Holding, which invested $1.1 billion in Zambia's Mopani Copper Mines in December and focuses on energy transition minerals, will also be transferred to the portfolio.

Shares of IHC, the United Arab Emirates' most valuable listed company jumped as much as 3.2% in early morning trade on Wednesday.

With a market capitalisation of $240 billion, IHC is part of a business empire overseen by its chair, Sheikh Tahnoon bin Zayed al-Nahyan, who is also the UAE's national security adviser and a foreign policy troubleshooter for his brother, President Sheikh Mohammed bin Zayed al-Nahyan.

"Today, we are proud to announce the formation of 2PointZero, a next generation holding company that stands at the forefront of pioneering advancements across multiple sectors," Sheikh Tahnoon was quoted as saying.

PointZero will hold ownership in entities whose transfer to IHC has been initiated, after obtaining approval from the board, the statement said. The transfer of ownerships into 2PointZero is pending regulatory approvals.

2PointZero's portfolio will span private equity, alternative investments, investment banking and brokerage, in addition to artificial intelligence, mining and cryptocurrency ecosystems, it said.

The portfolio will also include private investment firm Chimera Investments and Egyptian financial services firm Beltone Holding.

Special purpose vehicle Sagasse Investments and Citadel Technologies, which operates a crypto mining plant in Abu Dhabi, are also listed in 2PointZero's portfolio.

($1 = 3.6725 UAE dirham)

(Reporting by Hadeel Al Sayegh; editing by Jonathan Oatis, Emelia Sithole-Matarise and Louise Heavens)