Abu Dhabi Royal Sets Up Firm to Hold $27 Billion in Assets (2)

Abu Dhabi’s largest listed company, led by a key member of the emirate’s royal family, is setting up a new holding firm with assets worth 100 billion dirhams ($27 billion) across sectors ranging from financial services to mining.

The new firm, called 2PointZero, will be transferred into Abu Dhabi’s $239 billion International Holding Co. Its holdings will include portions of Sheikh Tahnoon bin Zayed Al Nahyan’s sprawling empire, according to a statement late Tuesday.

WATCH: Mideast Latest - Saudi stocks extend gains and Sheikh Tahnoon bin Zayed Al Nahyan is setting up a new holding firm.

Source: Bloomberg

Lunate, Abu Dhabi’s newest fund, will be part of 2PointZero. International Resources Holding, which last month invested more than $1 billion in Zambia’s Mopani ...