Introducing 2PointZero: Abu Dhabi’s USD 239 bn International Holding Company(IHC) has set up a new holding company named 2PointZero expected to hold more than AED 100 bn worth of assets — equivalent to USD 27 bn — including Beltone Financial Holding, Chimera, and Lunate, according to an IHC statement (pdf).

The local angle: Cairo-headquartered Beltone has returned to life under a new management team and ambitions in the region and beyond under CEO Dalia Khorshid and her team. Chimera, led by regional finance veteran Seif Fikry, has invested heavily in Egypt, including in Beltone, GB Lease, MNT-Halan, and a small stake in EFG Holding.

2PointZero will also hold crypto mining player Citadel Technologies, Middle-East focused Sagasse Investments, private-markets focused firm Lunate, as well as Abu Dhabi’s International Resources Holding.

What they said: “2PointZero is committed to having a transformative impact globally. Ourdedication to technology and Artificial Intelligence is evident in our commitment to developing solutions that redefine industries such as financial services, investment banking, and resource management,” IHC Chairman Sheikh Tahnoon bin Zayed Al Nahyan said.

Sound smart: Sheikh Tahnoon is the UAE’s national security advisor and a leading business figure in the country.

The ownership breakdown: IHC will own 87% of 2PointZero, the company told Reuters without disclosing who will own the remaining 13%. Sheikh Tahnoon’s Royal Group owns some 61% of IHC.

The news received coverage from: Reuters and Bloomberg.

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