Lunate and BNY Mellon invest in New Wealth Technology
- Abu Dhabi The established company will meet the growing needs of wealth and asset managers in The Middle East For a comprehensive wealth management platform
- BNY Mellon will bring its global wealth technology expertise and has a minority stake in the company
ABU DHABIAnd the United Arab Emirates New York, November 21, 2023 /PRNewswire/ — Lunit, a global alternative investment management firm with more than… 50 billion dollars of assets under management, and BNY Mellon (NYSE:BK), the world’s largest custodian and a leader in wealth management technology, invests in a new company, Alfia, which will develop a wealth management technology platform for managers. Wealth and assets in the world. The Middle East And North Africa (from him). Alfia is based in the Abu Dhabi Global Market (ADGM) and will be funded with a capital commitment of 300 million dollars It is expected to begin serving customers in 2024. Bank of New York Mellon holds a minority stake in the company.
The new financial technology company will meet the growing demand in The Middle East From wealth and asset managers, private banks, and investment houses, for a comprehensive digital solution that offers a range of services, including client onboarding, financial planning, portfolio construction, trading and rebalancing, risk management reporting, and analytics. Leveraging the latest security and data architecture, the platform will be designed to meet the data privacy and localization requirements of each market in the region.
“We look forward to leveraging our local industry and investment expertise combined with BNY Mellon’s long history in wealth technology solutions to help wealth managers in… The Middle East “It meets the evolving needs of its customers,” he said. Intellectual sword, Managing Partner, Lunate. “This new platform will not only transform the wealth capabilities of financial institutions across the MENA region, but also enhance them.” Abu Dhabi’s Its role as a global center for wealth and asset management.”
Built on an open and modular architecture, the platform will provide digital tools and solutions for clients to address the growing challenges of managing complex technology and numerous investment vehicles, so they can focus on engaging with their clients and expanding their businesses.
“Bank of New York Mellon is one of the largest providers of wealth management technology, and the new company will leverage our deep experience in providing wealth managers and investors with digital tools and solutions to enhance portfolio management, seamlessly connect with local and global service providers, and harness world-leading corporate data management capabilities,” he said. Akash Shah, Chief Growth Officer, BNY Mellon. “We are proud to invest in an organization that recognizes the need for locally developed wealth technology solutions, and to support the region’s thriving wealth management industry.”
“Today’s wealth franchises manage complex technology environments and numerous investment options, all of which are supported by more data, analytics and increasingly sophisticated risk management practices,” he said. Roger Rouhana, CEO of Alfea. “Creating a wealth technology solution that provides digital tools and software solutions in one integrated, customized platform to suit everyone.” The Middle EastIt will significantly enhance the ability of regional wealth managers to grow in a scalable and client-centric manner.”
Further operational details will be announced in due course. For more information, please visit: www.alpheya.com
Lunate new Abu DhabiA global, independent, partner-led alternative investment management firm with over 150 employees and more 50 billion dollars of assets under management. Lunate invests across the entire private market spectrum including buyouts, growth equity, early and late venture capital, private credit, real assets, public equity and public credit. Lunate aims to be one of the world’s leading providers of private markets solutions through SMAs and multi-asset funds, seeking to achieve the best risk-adjusted returns for its clients.
About Bank of New York Mellon
Founded in 1784 BNY Mellon It is the oldest bank in America and the first company listed on the New York Stock Exchange (NYSE: With you). today, BNY Mellon It supports capital markets around the world with comprehensive solutions that help clients manage and service their financial assets throughout the investment lifecycle. BNY Mellon king $45.7 trillion In assets subject to custody and/or management $1.8 trillion In assets under management as of September 30, 2023. BNY Mellon Ranked among Fortune’s World’s Most Admired Companies and Fast Company’s Best Workplaces for Innovators. BNY Mellon It is the corporate brand of a bank New York Melon institution. Additional information is available at www.bnymellon.com. Follow us on LinkedIn or visit our newsroom for the latest company news.
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Source: Bank of New York Mellon
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