DUBAI, Jan 3 Reuters International Holding Company IHC, an Abu Dhabi conglomerate led by a key member of the United Arab Emirates39; ruling family, has formed a new holding company that will hold a 27 billion portfolio across industries from asset management to mining.

The portfolio will be transferred into the new entity 2PointZero from Royal Group, after obtaining regulatory approvals, IHC told Reuters in a statement on Wednesday. Royal Group is IHC39;s biggest shareholder owning a 61 stake in the company and part of Sheikh Tahnoon bin Zayed alNahyan39;s business empire.

2PointZero39;s portfolio will include alternative asset manager Lunate, which last month launched a 30 billion climate fund dubbed ALTÉRRA at COP28, in collaboration with global asset managers BlackRock, Brookfield and TPG.

International Resources Holding, which invested 1.1 billion in Zambia39;s Mopani Copper Mines in December and focuses on energy transition minerals, will also be transferred to the portfolio.

Formerly known as International Fish Farming Holding, IHC went from an obscure seafood producer and distributor and real estate investor and developer to a major conglomerate with a market capitalisation that has ballooned since 2020 to 240 billion, double the size of global alternative asset manager BlackRock.

Egyptian financial services firm Beltone Holding, which is 56 owned by Royal Group, is also earmarked for 2PointZero, pending regulatory approval.

Shares of Cairolisted Beltone…