Abu Dhabi's IHC forms new company with assets set to exceed $27 billion

Abu Dhabi's International Holding Company (IHC), under the leadership of a member of the United Arab Emirates' ruling family, has established a new entity, 2PointZero, set to manage a vast $27 billion portfolio spanning various sectors from asset management to mining.

The colossal portfolio, currently housed within Royal Group, IHC's major shareholder with a 61 per cent stake and an integral part of Sheikh Tahnoon bin Zayed al-Nahyan's business domain, will undergo a transfer to 2PointZero pending regulatory clearances.

Diversified assest portfolio

2PointZero's holdings will encompass a diverse range of assets, including Lunate, an alternative asset manager that recently introduced the $30 billion climate fund ALTÉRRA during COP28, partnering with global giants like BlackRock, Brookfield, and TPG.

Another key inclusion in the portfolio is International Resources Holding, which directed a $1.1 billion investment into Zambia's Mopani Copper Mines, focusing on minerals pivotal for the energy transition.

Initially recognised as International Fish Farming Holding, IHC has evolved from a relatively modest seafood producer and real estate investor into a substantial conglomerate. Since 2020, its market capitalization has surged to a staggering $240 billion, doubling the size of global asset manager BlackRock.

Assest management

Beltone Holding, an Egyptian financial services firm predominantly owned by Royal Group, awaits incorporation into 2PointZero, contingent on regulatory approvals, leading to a notable surge in its Cairo-listed shares, escalating by over 10 per cent before suspension from trading on the Egyptian exchange.

Under the leadership of Sheikh Tahnoon bin Zayed al-Nahyan, IHC operates within a larger business sphere. Sheikh Tahnoon, a prominent figure overseeing Abu Dhabi's significant wealth funds like the Abu Dhabi Investment Authority and ADQ, also chairs First Abu Dhabi Bank, the UAE's most extensive asset-based lender.

The expansionary move towards 2PointZero also encompasses other entities like private investment firm Chimera Investments, Sagasse Investments, and Citadel Technologies, known for their crypto mining endeavours specialising in Bitcoin extraction within Abu Dhabi.

(with Reuters inputs)