Abu Dhabi Investment Firm Lunate Takes On AI Firm G42's China Fund.

Abu Dhabi investment firm Lunate has taken over the management of G42's China-focused fund, which includes stakes in Chinese technology companies such as ByteDance and JD.com. Lunate, a unit of International Holding Co., plans to hire a small team to manage the fund. G42 had previously made a deal with the Biden administration to pivot away from Beijing, but Lunate's involvement raises questions about whether the deal aligns with US strategic goals. Lunate, under the control of Sheikh Tahnoon bin Zayed Al Nahyan, has made several deals since its inception, including an investment in a Dubai office tower and the purchase of a stake in Abu Dhabi National Oil Co.'s oil pipeline network. [Extracted from the article]