Lunate, the US$100 billion alternative asset manager set up by Abu Dhabi-based asset manager Chimera Investments, has launched a joint venture (JV) in the private capital space.
Lunate has partnered with US-based alternatives firm Blue Owl Capital for the project.
The intention is to provide growth capital to mid-sized private capital general partners (GPs).
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The JV will look to acquire minority stakes in private market investment managers with fee-paying assets under management less than $10 billion.
It will target GPs with a “clear sector specialisation and differentiated approach”, according to Lunate and Blue Owl.
According to Lunate managing partner Khalifa Al Suwaidi, the JV will enable its clients to “participate in the broader dynamics of private markets investing”.