IHC subsidiary Judan Financial has acquired a 50.1% stake in Alpha Wave Global, a US-based investment management firm.
The deal is expected to provide the Abu Dhabi-based financial services firm and its parent company with a significant foothold in the US market, including accelerating growth, strengthening institutional partnerships and unlocking new opportunities for investors.
Headquartered in Miami, Florida, Alpha Wave has $29 billion in assets under management across private equity, private credit, public markets and insurance. Its portfolio includes SpaceX, OpenAI, Anthropic, Cerebras and Ramp.
After the transaction, Alpha Wave will continue to operate under its existing leadership led by co- founder, chairman, and CEO Rick Gerson, alongside co-founders Navroz Udwadia and Ryan Khoury. Alpha Wave recently appointed Francis Suarez, former Mayor of Miami, as President.
With the new deal, the US firm also expects to accelerate its AI native US life insurance and retirement solutions vertical.
Source: www.zawya.com