Lunate + BNY Mellon set up new USD 300 mn company: Abu-Dhabi based alternative investment manager Lunate and investment banking group BNY Mellon are launching a new USD 300 mn company named Alpheya, according to a joint statement. BNY Mellon will hold a minority stake in Alpheya, the statement says.

Alpheya, which will be based in the Abu Dhabi Global Market (ADGM), will “develop a customized wealth management technology platform for wealth and asset managers in the Middle East and North Africa,” the statement says. The company will begin serving clients next year, Lunate and BNY Mellon said, without specifying when during the year.

About Lunate: Abu Dhabi’s Chimera Investment set up Lunate in September, with north of USD 50 bn in assets under management, according to Reuters. Lunate counts Abu Dhabi Growth Fund CEO Khalifa Al Suwaidi, ADQ’s alternatives investment platform CIO Murtaza Hussain, and Chimera CEO Seif Fikry as its three managing partners, according to Bloomberg.

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