Abu Dhabi Largest Listed Company $244 Billion IHC Launches New Holding Company 2PointZero with $27 Billion AUM, Creating a Next Generation Holding Com
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Abu Dhabi Largest Listed Company $244 Billion IHC Launches New Holding Company 2PointZero with $27 Billion AUM, Creating a Next Generation Holding Company Including in Private Equity, Alternative Investments, Venture Capital Operations, Credit & Asset Management, Financial Services, Micro Financing, Insurance, Investment Banking, Securities Brokerage & Research, Artificial Intelligence, Technology, Mineral & Resource Management, Digital, Cryptocurrency Ecosystems & Mobility 4th January 2024 | Hong Kong
Abu Dhabi largest listed company IHC (4/1/24: $244 billion market capitalization) has launched a new holding company 2PointZero with expected $27 billion AUM (Assets under Management), creating a next generation holding company including in private equity, alternative investments, venture capital operations, credit & asset management, financial services, micro financing, insurance, investment banking, securities brokerage & research, artificial intelligence, technology, mineral & resource management, digital, cryptocurrency ecosystems & mobility. Announcement: “Today, the globally diversified Abu Dhabi-based conglomerate, International Holding Company (ADX: IHC), announced a landmark move. 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 AED 100 billion (transfer will be completed after obtaining all regulatory approvals).”
“ Abu Dhabi Largest Listed Company $244 Billion IHC Launches New Holding Company 2PointZero with $27 Billion AUM, Creating a Next Generation Holding Company Including in Private Equity, Alternative Investments, Venture Capital Operations, Credit & Asset Management, Financial Services, Micro Financing, Insurance, Investment Banking, Securities Brokerage & Research, Artificial Intelligence, Technology, Mineral & Resource Management, Digital, Cryptocurrency Ecosystems & Mobility “
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IHC Chairman, Tahnoon bin Zayed Al Nahyan: “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.”
Syed Basar Shueb, IHC’s CEO: “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.”
Abu Dhabi Largest Listed Company $244 Billion IHC Launches New Holding Company 2PointZero with $27 Billion AUM
IHC 2nd January 2024 – Today, the globally diversified Abu Dhabi-based conglomerate, International Holding Company (ADX: IHC), announced a landmark move. 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 AED 100 billion (transfer will be completed after obtaining all regulatory approvals).
A New Era of Diversified Excellence
2PointZero is more than a Holding Company; it 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 and Mobility.
A Snapshot of the Constituent Companies includes:
- 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 over 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 AED 1.4 billion and assets of AED 20.1 billion for FY22. Chimera also oversees subsidiaries Lunate and Beltone.
- Lunate, (pending regulatory approvals), is a major independent global alternative investment manager, managing of over AED 400 billion 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 (EGX: BTFH.CA) (pending regulatory approvals) is 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; and
- Other Ventures: Data Science and Analytics, Academy, Digital Factory and Real Estate
The Company is driven by a vision to redefine the financial ecosystem by capitalizing on global expertise, knowledge, disruptive and value-accretive solutions for clients. Recently, Beltone raised EGP10 billion in the largest capital increase in the history of the Egyptian Stock Exchange (EGX), increasing its paid-in capital from EGP926 billion to EGP10.9 billion. Beltone is one of the most actively traded and most liquid stocks on EGX.
- International Resources Holding (IRH), headquartered in Abu Dhabi, specializes 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. IRH plays a pivotal role in advancing in-country value addition across Africa and beyond, building ecosystems through strategic collaborations, and improving infrastructure and living standards. Recently, IRH signed a $1.1 billion investment agreement for a 51% stake in Zambia’s Mopani Copper Mines and partnered with Jubilee Metals to recover copper from waste in Zambia. The company has over 20 assets under negotiation and more than 22,000 square kilometres under exploration in various countries.
- Sagasse Investments is a dynamic investment company operating as a specialized 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 AED 8 billion and book equity exceeding AED 8 billion, underscoring Sagasse’s financial strength and its ability to generate value for its stakeholders.
- Citadel Technologies, is a leading player in the cryptocurrency mining industry and operates a state-of-the-art crypto mining facility in Abu Dhabi, UAE. The company specializes 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 FY22, Citadel reported a revenue of AED100 million and an asset size of AED2.7 billion. IHC recently acquired a 10% stake in Phoenix Group, which manages the ‘Citadel Project’. Citadel’s facility is recognized as the Middle East’s largest crypto-mining facility.
About 2PointZero
2PointZero is a next generation holding company headquartered in the UAE, pioneering advancements across a multitude of sectors. With a vision that transcends boundaries, 2PointZero is dedicated to weaving a legacy of innovation, sustainability, and global inclusivity. Founded with the ambition to lead in financial services, investment banking, technology, AI, and more, 2PointZero unites industry leaders such as Chimera Investments, Lunate Capital, Beltone Holdings, and International Resources Holding (IRH) under one transformative umbrella. The 2PointZero portfolio, which is expected to surpass AED 100 billion in assets, reflects its commitment to excellence and strategic growth in the digital and crypto ecosystems, resource management, and beyond. As a beacon of diversified excellence, 2PointZero empowers its constituent companies to foster sustainable ecosystems, achieve technological breakthroughs, and ensure financial resilience.
About International Holding Company
IHC was founded in 1998 as part of an initiative to diversify and develop non-oil business sectors in the UAE and has grown to become the most valuable listed holding company in the Middle East with a market cap of AED 879 billion as of September 30, 2023. The company endeavors to implement sustainability, innovation, and economic diversification initiatives across what is now one of the region’s largest conglomerates. IHC is included in FTSE ADX 15 Index (FADX 15), representing the top 15 largest and most liquid companies on the ADX. IHC has a clear objective of enhancing its portfolio through acquisitions, strategic investments, and business combinations. Comprising more than 500 subsidiaries and over 107,000 employees, IHC seeks to expand and diversify its holdings across a growing number of sectors, including Asset management, Healthcare, Real Estate and Construction, Marine and Dredging, IT and Communications, Financial Services, Food Production and Service, Utilities, and Services. With a core strategy to enhance shareholder value and achieve growth, IHC drives operational synergies and maximizes cost efficiencies across all verticals – it also continues to evaluate investment opportunities through direct ownership and entering partnerships in the UAE and abroad. As the world changes and new opportunities arise, IHC remains focused on resilience, innovation, and redefining the marketplace for itself, its clients, and its partners.
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