BNY Mellon expands in UAE with new Lunate mandate

BNY Mellon has deployed its cloud native data platform for the first time in the UAE, after being commissioned by Lunate Capital, the Abu Dhabi-based global alternative investment manager, to provide it with a data operating model.

Lunate Capital, which has >USD50bn AuM, recently appointed BNY Mellon as administrator, transfer agent and global custodian for all its funds. In 2023 Lunate and BNY Mellon invested in a new company, Alpheya, that will develop a wealth management technology platform for wealth and asset managers in the Middle East and North Africa. Based in the ADGM, Alpheya will be funded with a capital commitment of USD300m and is expected to start servicing clients in 2024. BNY Mellon has a minority share in the company.

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