Lunate Acquires 40% Stake in ADNOC's Pipeline Assets
The acquisition was made through Lunate's Long-Term Capital Fund.
Abu Dhabi's alternative asset manager, Lunate, has secured a 40% stake in ADNOC Oil Pipelines (AOP) from two US investors, BlackRock and KKR.[1]
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Through Lunate's Long-Term Capital Fund, which acquired the entire special-purpose vehicle that BlackRock and KKR had previously co-owned. This vehicle was initially established following their investment in AOP back in 2019.
The pipelines in question encompass 17 onshore and five offshore pipelines, spanning 806 kilometers and boasting a collective capacity of 18 million barrels per day.
Senior management and Chimera Investment, an Abu Dhabi-listed company with $50 billion in assets under management, are the owners of Lunate, which launched in September 2023.
In March, Lunate Capital Limited introduced the Chimera GB Morgan UAE Yield Estes Traded Fund.
Lunate Capital Management Limited, a division of Lunit Holdings Restricted Limited, has received authorization from Abu Dhabi's Financial Services Regulatory Authority to operate this fund.