Abu Dhabi’s Lunate, an asset management firm with $105 billion in assets, has launched a new venture named Axight that will focus on private equity deals in the Asia-Pacific region. This initiative aims to increase Lunate’s exposure to faster-growing markets, as revealed by sources familiar with the matter who requested anonymity due to the confidential nature of the information.

While Axight plans to raise third-party capital over time, the initial size of the venture has not yet been disclosed. Representatives from Lunate have chosen not to comment on this new development.

Lunate operates as a subsidiary of Chimera Investment LLC, with the Abu Dhabi sovereign wealth fund ADQ serving as an anchor client. Both Chimera and ADQ are associated with the business empire of Abu Dhabi royal Sheikh Tahnoon bin Zayed Al Nahyan. Since its establishment in 2023, Lunate has completed various deals, which include investments in a high-profile Dubai office tower, an oil pipeline network, and a gas pipeline business.

Additionally, Lunate previously established Alterra, a climate investment fund that received an initial commitment of $30 billion from the United Arab Emirates. The firm has also managed an AI-focused fund linked to G42, which includes stakes in technology companies such as ByteDance Ltd. and JD.com Inc.

Abu Dhabi has been active in launching multiple investment vehicles in recent years, including MGX, which focuses on AI and advanced technology, and XRG, aimed at international natural gas, chemicals, and low-carbon energy assets.