Abu Dhabi's Judan Financial acquires stake in Alpha Wave

About this update from International Holding Company Pjsc

Judan Financial, a new subsidiary of Abu Dhabi's International Holding Company, said on Monday it had acquired a 50.1% stake in U.S.-based Alpha Wave, as it moves to build a global asset-management platform and expand its financial services portfolio.Judan said the deal, its first strategic investment, would support the acceleration of investment manager Alpha Wave's planned launch of an AI-native life insurance business.IHC last month set up Judan Financial, a new AI-enabled international financial services holding company expected to oversee more than 870 billion dirhams ($236.89 billion) in assets under management.Judan Financial is chaired by Sheikh Tahnoon bin Zayed Al Nahyan, with Mohamed Hassan Alsuwaidi serving as vice chairman, managing director and chief executive.Alpha Wave Global manages about $29 billion in assets across four verticals, including private equity, private credit, public markets and insurance. The firm has 116 professionals across 11 offices worldwide and is based in Miami, Florida.Its investment portfolio includes AI companies such as SpaceX, Anthropic, OpenAI and Cerebras, among others.The investment manager will continue to operate under its existing leadership team led by Rick Gerson, its co-founder, chairman and CEO, alongside co-founders Navroz Udwadia and Ryan Khoury. ($1 = 3.6726 UAE dirhams)

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