Lunate and BNY Mellon invest in Alpheya
Lunate, an investment management company with $50bn AUM, and BNY Messon, a provider of custody and wealth management services, have invested in Alpheya, a company developing a wealth management platform.
Based in Abu Dhabi, Alpheya will be funded with a capital commitment of $300m, with BNY Mellon holding a minority interest in the company, which is to start operating in 2024.
The company aims to service Middle Eastern wealth and asset managers, private banks and investment houses, assisting them with client onboarding, financial planning, portfolio construction, trading and rebalancing, risk management, reporting and analytics.
"Wealth franchises today are managing complex technology environments and a multitude of investment options, which are all supported by more data and analytics and increasingly sophisticated risk management...