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Lunate, the Abu Dhabi-based alternative investment manager, and Blue Owl Capital, the NYSE-listed alternative asset management firm, have entered a joint venture to invest in private market investment managers.
The JV seeks to acquire minority stakes in private market investment managers with fee-paying assets under management of less than $10 billion.
Lunate is said to contribute about $500 million to the effort, for which Blue Owl is seeking to raise $2.5 billion, according to a Bloomberg, citing a person familiar with the matter.
Based in Abu Dhabi Global Market, Lunate is owned by the Abu Dhabi sovereign-backed Chimera Investment LLC, managing $105 billion in assets.
(Writing by Bindu Rai, editing by Seban Scaria)
