IHC Forms New Company 2PointZero with $27.2 Billion in Assets

The Abu Dhabi-based International Holding Company (IHC) has approved the initiation of the transfer of 2PointZero, a next generation Holding Company comprising six diverse companies, to IHC.

Spanning multiple sectors, business combinations of entities under common control, have been combined to form 2PointZero, boasting an impressive asset size expected to exceed $27.2 billion and the transfer will be completed after obtaining all regulatory approvals.

2PointZero is more than a Holding Company as it embodies a vision of progress across a variety of industry verticals including private equity and alternative investments, venture capital operations, credit/asset management, financial services (including micro financing and insurance), investment banking, securities brokerage and research, Artificial Intelligence (AI) and technology, mineral and resource management, digital and cryptocurrency ecosystems and mobility.

Sheikh Tahnoon bin Zayed Al Nahyan, IHC Chairman, said that 2PointZero is a next generation holding company that stands at the forefront of pioneering advancements across multiple sectors. Embracing the future with open arms, 2PointZero is committed to having a transformative impact globally.

“Our dedication to technology and Artificial Intelligence (AI) is evident in our commitment to developing solutions that redefine industries such as financial services, investment banking, and resource management. Our vision transcends boundaries, and our mission is to build sustainable ecosystems that empower communities, cultivate technological excellence, and ensure financial resilience,” he added.

IHC’s CEO Syed Basar Shueb said that the new company’s collective strength lies in its diversity, shared vision, and unwavering commitment to progress. Its thriving ecosystem of industry leaders is interconnected, each contributing unique value and drawing strength from their collective purpose. “By harnessing our expertise and acumen across these industry verticals and operating at an unprecedented scale, 2PointZero is poised to create a transformative impact on the world,” he explained.

Constituent Companies

Chimera Investments, an Abu Dhabi-based private investment firm was established in 2007, and boasts significant global influence and acumen. It manages a diverse portfolio of equities and seeks value-creation opportunities in line with its investment philosophy.

As part of the Royal Group, Chimera contributes to a conglomerate with over 60 entities across various industries, employing 20,000 people. In 2023, Chimera launched ChimHaeres Investment Holding with Haeres Capital, acquired Vionnet, and sponsored and anchored ADC Acquisition Corporation, the first regional SPAC. The firm reported a net profit of $380 million and assets of $5.47 billion for FY22.

Lunate, (pending regulatory approvals), is a major independent global alternative investment manager, managing of over AED400 billion in assets. Majority-owned by Chimera, it primarily invests in private markets, including Buyouts, Growth Equity, Venture Capital, Private Credit, and Real Assets, with selective investments in Public Equities and Credit.

Beltone Holding is one of the fastest growing financial services providers in Egypt and the MENA region. The Company offers a diverse range of services such as investment banking, asset management, securities brokerage and research, direct investments, private equity, venture capital, leasing, factoring, consumer finance among others.

International Resources Holding (IRH), specialises in unlocking the mineral value chain with a strategic focus on energy transition minerals and key resources such as Copper, Cobalt, Nickel, Lithium, 3T (Tin, Tantalum Tungsten), Manganese, and Graphite.

Recently, IRH signed a $1.1 billion investment agreement for a 51% stake in Zambia’s Mopani Copper Mines and partnered with Jubilee Metals to recover copper from waste in Zambia. The company has over 20 assets under negotiation and more than 22,000 sq km under exploration in various countries.

Sagasse Investments is a dynamic investment company operating as a specialised purpose vehicle, dedicated to strategic investments in select companies. With a primary focus on the Middle East, Sagasse is positioned as a key player in the region’s economic landscape while maintaining flexibility to explore opportunities in diverse global markets. For the fiscal year 2023, the company reported total assets of $2.18 billion and book equity also exceeding $2.18 billion.

Citadel Technologies, is a leading player in the cryptocurrency mining industry and operates a state-of-the-art crypto mining facility in Abu Dhabi. The company specialises in Bitcoin extraction and is committed to sustainable and efficient mining practices. Citadel’s strategic location in the UAE allows it to leverage the region’s advanced infrastructure.

In FY22, Citadel reported a revenue of $27.2 million and an asset size of $740 million. IHC recently acquired a 10% stake in Phoenix Group, which manages the ‘Citadel Project’. Citadel’s facility is recognised as the Middle East’s largest crypto-mining facility.