International Holding Company (IHC) (IHC.AD), an Abu Dhabi conglomerate led by a key member of the United Arab Emirates’ ruling family, has formed a new holding company that will hold a $27 billion portfolio across industries from asset management to mining, Report informs via Reuters.
The portfolio will be transferred into the new entity 2PointZero from Royal Group, after obtaining regulatory approvals, IHC told Reuters in a statement on Wednesday. Royal Group is IHC’s biggest shareholder owning a 61% stake in the company and part of Sheikh Tahnoon bin Zayed al-Nahyan’s business empire.
2PointZero’s portfolio will include alternative asset manager Lunate, which last month launched a $30 billion climate fund dubbed ALTÉRRA at COP28, in collaboration with global asset managers BlackRock (BLK.N), Brookfield (BAM.TO) and TPG (TPG.O).
International Resources Holding, which invested $1.1 billion in Zambia’s Mopani Copper Mines in December and focuses on energy transition minerals, will also be transferred to the portfolio.
Formerly known as International Fish Farming Holding, IHC went from an obscure seafood producer and distributor and real estate investor and developer to a major conglomerate with a market capitalisation that has ballooned since 2020 to $240 billion, double the size of global alternative asset manager BlackRock.
Azərbaycan24 sosial şəbəkələrdə
The post first appeared on www.azerbaycan24.com