Abu Dhabi’s International Holding Company (IHC) has announced the formation of a new entity with plans for AED100bn ($27.2bn) in assets.
The IHC Board approved the initiation of the transfer of 2PointZero, a next generation holding company comprising several diverse and dynamic companies, to IHC.
Spanning multiple sectors, business combinations of entities under common control, have been combined to form 2PointZero, boasting an impressive asset size expected to exceed AED100bn ($27.2bn).
Abu Dhabi’s IHC launches 2PointZero
IHC Chairman, Tahnoon bin Zayed Al Nahyan said: “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.
“Embracing the future with open arms, 2PointZero is committed to having a transformative impact globally. Our dedication to technology and artificial intelligence (AI) is evident in our commitment to developing solutions that redefine industries such as financial services, investment banking, and resource management.
“Our vision transcends boundaries, and our mission is to build sustainable ecosystems that empower communities, cultivate technological excellence, and ensure financial resilience.”
IHC says 2PointZero embodies a vision of progress across a variety of industry verticals, including:
- Private equity and alternative investments
- Venture capital operations
- Credit/asset management
- Financial services (including micro financing and insurance)
- Investment banking
- Securities brokerage and research
- Artificial intelligence (AI) and technology
- Mineral and resource management
- Digital and cryptocurrency ecosystems
- Mobility
Syed Basar Shueb, IHC’s Chief Executive Officer, said: “2PointZero’s collective strength lies in its diversity, shared vision, and unwavering commitment to progress.
“Its thriving ecosystem of industry leaders is interconnected, each contributing unique value and drawing strength from their collective purpose.
“By harnessing our expertise and acumen across these industry verticals and operating at an unprecedented scale, 2PointZero is poised to create a transformative impact on the world.”
A snapshot of the Constituent Companies includes:
Chimera investments: Chimera Investments, established in 2007, is an Abu Dhabi-based private investment firm that boasts significant global influence and acumen. It manages a diverse portfolio of equities and seeks value-creation opportunities in line with its investment philosophy.
As part of the Royal Group, Chimera contributes to a conglomerate with more than 60 entities across various industries, employing 20,000 people.
In 2023, Chimera launched ChimHaeres Investment Holding with Haeres Capital, acquired Vionnet, and sponsored and anchored ADC Acquisition Corporation, the first regional SPAC.
The firm reported a net profit of AED1.4bn ($381m) and assets of AED20.1bn ($5.5bn) for 2022.
Chimera also oversees subsidiaries Lunate and Beltone.
Lunate: Lunate, (pending regulatory approvals), is a major independent global alternative investment manager, with more than AED400bn ($109bn) in assets.
Majority-owned by Chimera, it primarily invests in private markets, including buyouts, growth equity, venture capital, private credit, and real assets, with selective investments in public equities and credit.
Lunate aims to be a leading private markets solutions provider, targeting institutional investors, pension funds, and family offices, with a focus on generating superior risk-adjusted returns.
Recently, Lunate launched ALTÉRRA at COP28, the world’s largest private climate investment vehicle, aiming to steer private finance towards climate action and promote a more equitable climate finance system.
Beltone Holding: One of the fastest growing financial services providers in Egypt and the MENA region. The Company offers a diverse range of services:
- Investment banking, asset management, securities brokerage and research
- Direct investments, private equity, venture capital, leasing, factoring, consumer finance, mortgage and microfinance
- Data science and analytics, academy, digital factory and Real Estate
The company is driven by a vision to redefine the financial ecosystem by capitalising on global expertise, knowledge, disruptive and value-accretive solutions for clients.
Recently, Beltone raised EGP10bn in the largest capital increase in the history of the Egyptian Stock Exchange, increasing its paid-in capital from EGP926m to EGP10.9bn.
Beltone is one of the most actively traded and most liquid stocks on EGX.
International Resources Holding (IRH): Headquartered in Abu Dhabi, it specialises in unlocking the mineral value chain with a strategic focus on energy transition minerals and key resources such as Copper, Cobalt, Nickel, Lithium, 3T (Tin, Tantalum Tungsten), Manganese, and Graphite.
Sagasse Investments: A dynamic investment company operating as a specialised purpose vehicle, dedicated to strategic investments in select companies.
With a primary focus on the Middle East, Sagasse is positioned as a key player in the region’s economic landscape while maintaining flexibility to explore opportunities in diverse global markets.
Beyond its core investment portfolio, the company engages directly in equities, cash instruments, and premium cash and debt securities, demonstrating a commitment to a well-rounded investment approach.
For the fiscal year 2023, the company reported total assets of AED8bn and book equity exceeding AED8bn, underscoring Sagasse’s financial strength and its ability to generate value for its stakeholders.
Citadel Technologies: A leading player in the cryptocurrency mining industry and operates a state-of-the-art crypto mining facility in Abu Dhabi, UAE.
The company specialises in Bitcoin extraction and is committed to sustainable and efficient mining practices.
Citadel’s strategic location in the UAE allows it to leverage the region’s advanced infrastructure.
In 2022, Citadel reported a revenue of AED100m and an asset size of AED2.7bn.
IHC recently acquired a 10 per cent stake in Phoenix Group, which manages the ‘Citadel Project’. Citadel’s facility is recognised as the Middle East’s largest crypto-mining facility.
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