Azura, which was founded in 2019 by seasoned wealth manager Ali Jamal, will remain independent following the investment. Azura’s founder and current management team will retain operational control, ensuring the firm maintains its open architecture approach
Abu Dhabi-based global alternative investment manager, Lunate, with over US$110 billion in assets under management (AUM), has announced a strategic investment in Azura Partners (Azura), a rapidly growing wealth management firm that serves ultra-high-net-worth (UHNW) and high-net-worth (HNW) individuals, entrepreneurs, and single-family offices worldwide.
The investment, made through Lunate Holding RSC, is set to drive significant growth for Azura. With this partnership, Azura will have the resources to scale its AUM, attract top-tier talent, enhance its technological infrastructure, and expand its product offerings. One of the key areas of focus will be providing Azura’s clients with improved access to private market investment opportunities, which are increasingly in demand across the global wealth management sector.
Azura, which was founded in 2019 by seasoned wealth manager Ali Jamal, will remain independent following the investment. Azura’s founder and current management team will retain operational control, ensuring the firm maintains its open architecture approach. The company’s headquarters will also be relocated from Monaco to Abu Dhabi, leveraging the city’s growing financial ecosystem and its status as a global wealth management hub. This move will offer Azura the benefit of ADGM’s world-class infrastructure and regulatory environment, positioning the firm for further growth in the Middle East region.
Azura has quickly established itself as a prominent player in the wealth management space, with seven global offices in cities such as Monaco, Geneva, London, New York, Miami, Singapore, and Dubai. Since its inception, the firm has grown rapidly, managing US$5 billion in AUM. Its diverse client base includes HNW and UHNW individuals, family offices, and entrepreneurs. The firm’s offerings include investment management, advisory services, private wealth solutions, and strategic investment opportunities. Azura is supported by a team of 65 experienced professionals who provide tailored services to meet the unique needs of their clients.
Lunate’s investment in Azura is part of its broader strategy to expand into high-growth sectors such as wealth management. The global wealth management market is expected to reach US$609 trillion by 2026, driven by growing individual wealth and increasing demand for alternative investment solutions. The partnership between Lunate and Azura aims to capitalize on this market trend and meet the growing needs of investors seeking enhanced access to private markets and alternative investment opportunities.
The partnership comes at a time when the Middle East wealth management market is experiencing significant growth. According to reports, wealth in the region is projected to grow at a compound annual growth rate (CAGR) of 9.2 percent until 2030, outpacing the global average of 7 percent. This growth is fueled by the emergence of the UAE and Abu Dhabi as key financial hubs, attracting UHNW individuals and family offices from around the world. Azura’s advisory-led model, which focuses on delivering personalized wealth management solutions, will be a strong addition to the region’s wealth management offerings.
Lunate’s Managing Partner, Khalifa Al Suwaidi, expressed enthusiasm for the partnership, stating, “Lunate’s investment in Azura Partners marks our entry into the wealth management space and reflects our commitment to further developing the suite of solutions and products we offer our growing client base. The partnership further strengthens our strategy of expanding Lunate’s footprint across the investor value chain.”
Murtaza Hussain, another Managing Partner at Lunate, echoed Al Suwaidi’s sentiments, saying, “We are excited by the opportunity in the global wealth management industry. Our partnership with Azura aims to leverage our capital and expertise to strengthen and grow a best-in-class wealth manager. Together, we will be able to service increasingly sophisticated clients in the region and across the globe. With rising demand for alternative investments, Azura is uniquely positioned to provide HNW and UHNW investors with enhanced access to opportunities in private markets.”
For Ali Jamal, Founder, Chairman, and CEO of Azura Partners, the investment represents a significant milestone in the firm’s growth. Jamal expressed confidence in the strategic alignment with Lunate, noting that the partnership will play a critical role in helping Azura achieve its ambitious growth plans. He added, “Abu Dhabi has become a home for UHNW individuals and family offices. Its emergence as a leading financial center presents immense opportunities and synergies. Lunate’s endorsement of Azura aligns perfectly with our vision of becoming a leading global wealth manager and reflects our commitment to providing our clients with tailored solutions to grow, manage, and protect their wealth.”
The move to Abu Dhabi also reflects the growing importance of the city as a financial and wealth management hub. As a financial center, Abu Dhabi offers unparalleled infrastructure and a favorable regulatory environment for global wealth managers. By relocating its headquarters to the UAE, Azura positions itself to better serve the region’s growing market for bespoke wealth management services.
The partnership with Lunate will also help Azura enhance its technological capabilities, allowing the firm to offer its clients cutting-edge solutions for managing and growing their wealth. Technology plays an increasingly vital role in modern wealth management, enabling firms to deliver personalized services at scale while also gaining access to previously difficult-to-reach private market opportunities.
With Lunate’s investment, Azura is set to accelerate its growth trajectory, further strengthening its position as a leading global wealth manager. The partnership aims to capitalize on the booming wealth management industry, particularly in the Middle East and other emerging markets, where the demand for sophisticated financial solutions continues to rise.
Azura’s continued expansion and investment in technology and talent, combined with Lunate’s financial backing, position the firm for a strong future in the highly competitive wealth management landscape. The collaboration will undoubtedly create synergies that will help both firms meet the evolving needs of an increasingly affluent global clientele.
With a shared vision for innovation and growth, the partnership between Lunate and Azura promises to reshape the global wealth management sector, offering UHNW and HNW individuals greater access to exclusive investment opportunities and comprehensive wealth solutions.
