Written by Gérard Al-Fil, Dubai 

Brevan Howard currently manages 34 billion dollars globally, «Bloomberg» and the UAE daily «The National» reported. The partnership with Lunate will be capitalised with 2 billion dollars. In exchange, Lunate will also buy a minority stake in the Jersey-headquartered hedge fund. Brevan has developed a reputation of employing scores of former investment bankers and quantitative analysts and of running its trading department with a rigorous success model.

Founded in 2012, ADGM aims to shape its profile as a free zone for financial institutions from across the globe in oil-rich Abu Dhabi, also nicknamed «the capital of capital». 

The National quoted Emirati managing partner Khalifa Al Suwaidi, saying joining forces with Brevan Howard means Lunate expands its foray into the world of hedge funds. According to its website, Lunate has assets under management worth 110 billion dollars. 

Earlier in May, Lunate established a one billion dollar real estate joint venture with New York stock-listed Brookfield Asset Management. The fund will invest in the booming real estate market in the Middle East.