IHC Forms New Holding Company with Expected Assets to Exceed $27 billion

WEALTH MANAGEMENT - DUBAI - Abu Dhabi conglomerate International Holding Company (IHC) IHC.AD on Tuesday announced it had established 2PointZero, a holding company that will have more than 100 billion dirhams ($27 billion) in assets.

2PointZero will hold ownership in entities whose transfer to IHC has been initiated, after obtaining approval from the board, the statement said. The transfer of ownership into 2PointZero is pending regulatory approvals.

2PointZero's portfolio will span private equity, alternative investments, investment banking, and brokerage, in addition to artificial intelligence, mining, and cryptocurrency ecosystems, it said.

IHC is part of a business empire overseen by its chair, Sheikh Tahnoon bin Zayed al-Nahyan, who is also the UAE's national security adviser and a foreign policy troubleshooter for his brother, President Sheikh Mohammed bin Zayed al-Nahyan.

Sheikh Tahnoon bin Mohammed Al Nahyan

"Today, we are proud to announce the formation of 2PointZero, a next-generation holding company that stands at the forefront of pioneering advancements across multiple sectors," Sheikh Tahnoon was quoted as saying.

2PointZero's portfolio will include Abu Dhabi private investment firm Chimera Investment as well as alternative asset manager Lunate and Egyptian financial services firm Beltone Holding BTFH.CA.

Last month, Lunate launched the $30 billion climate fund dubbed ALTÉRRA at COP28, in collaboration with global asset managers BlackRock BLK.N, Brookfield BAM.TO and TPG TPG.O.

The portfolio will also include International Resources Holding, which focuses on energy transition minerals and key resources such as copper, cobalt, nickel, lithium, 3T, manganese, and graphite.

Special purpose vehicle Sagasse Investments and Citadel Technologies, which operates a crypto mining plant in Abu Dhabi, are also listed in 2PointZero's portfolio.