A new investment vehicle in Abu Dhabi has taken over the management of artificial intelligence firm G42’sChina-focused fund, according to people familiar with the matter, keeping the assets in the hands of a powerful member of the emirate’s royal family.
The fund, Lunate, plans to hire a small team to help manage what was G42’s 42XFund, an entity with stakes in units of Chinese technology companies including ByteDance Ltd. and JD.com Inc., the people said, asking not to be identified discussing private information.
G42 and Lunate are part of a sprawling empire overseen by United Arab ...
