Brevan’s Bet on Abu Dhabi Pays Off With $2 Billion Lunate Deal

Brevan Howard Asset Management is set to hand a minority stake to Abu Dhabi’s Lunate in a milestone agreement for the macro-trading firm that turned the emirate into its biggest risk center soon after setting up a local office in 2023.

The deal marks a rare instance of a hedge fund selling a stake in itself. As part of the agreement, Lunate will commit $2 billion to a newly-created investment platform in Abu Dhabi’s financial free-zone, ADGM, the firms said in a statement on Tuesday. The partnership will tap additional capital from local and international investors.

Abu Dhabi is home ...