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- Abu Dhabi Rejigs China Strategy; U.S. Weighs $20B Iran Deal; Lunate’s Axight Expands in Australia
Abu Dhabi Rejigs China Strategy; U.S. Weighs $20B Iran Deal; Lunate’s Axight Expands in Australia
Sunday, April 19, 2026
Happy Sunday everyone!
Abu Dhabi is planning to consolidate Chinese assets from Mubadala and L’imad Holding into a single entity to streamline its investment strategy after non-oil trade with China surpassed $100 billion in 2025. Meanwhile, the Trump administration is negotiating a potential $20 billion cash-for-uranium deal in Islamabad to secure Iran’s 2,000kg nuclear stockpile and end regional hostilities. Simultaneously, Lunate’s subsidiary Axight has acquired a minority stake in La Trobe Financial, valuing the Australian firm at $2.1 billion as Gulf sovereign wealth continues its aggressive global expansion.
In the wake of developments in the region, we hope everyone stays safe. At this critical moment, it is essential to remain united and follow guidance issued by official authorities from your country.
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Abu Dhabi Overhauls China Strategy with New Investment Vehicle
What Is It About?
Abu Dhabi plans to consolidate its Chinese investments—currently spread across Mubadala and L’imad Holding—under one joint entity. The goal is to stop different local funds from bidding against each other for the same pieces of the Chinese market. Mubadala has already put $20 billion into China since 2015, and this new move would put the oversight of these billions into a more central, powerful circle.
Why It Matters?
This shift signals that the UAE is getting much more serious about its "Eastward" pivot. While Abu Dhabi still has over a trillion dollars in U.S. and European assets, its deepening ties with Beijing show a desire to diversify political and financial risk. It’s a delicate balancing act, as any move closer to China often raises eyebrows in Washington.
What’s Next?
Watch for a formal structure to be announced following the Crown Prince’s recent visit to Xi Jinping. Analysts will be looking to see if this new entity targets specific tech sectors, like AI or green energy, which could further complicate the UAE’s relationship with its Western allies.
U.S. and Iran Discuss $20 Billion "Cash-for-Uranium" Deal
What Is It About?
The Trump administration is reportedly considering releasing $20 billion in frozen Iranian funds if Tehran hands over its stockpile of enriched uranium. Talks are moving to Islamabad this weekend, with Pakistan and Egypt acting as go-betweens. The deal focuses on nearly 2,000kg of uranium, with the U.S. pushing for a 20-year halt on enrichment while Iran asks for five.
Why It Matters?
A deal would likely end the current war, but it faces huge pushback from critics who fear the money will just fund more regional conflict. For the business world, a signed MOU would stabilize the Strait of Hormuz, where shipping costs have spiked. However, if talks fail by the April 21 deadline, President Trump has warned that "fire resumes."
What’s Next?
Eyes are on Sunday’s meeting in Islamabad. If both sides agree on where to ship the "nuclear dust," global oil prices could see a significant drop. If not, the region braces for a return to active strikes and further shipping lane blockades.
Abu Dhabi’s Axight Joins M&A Wave with Brookfield Deal
What Is It About?
Axight, the Asia-focused arm of Lunate, has bought a significant minority stake in La Trobe Financial from Brookfield. The deal values the Australian asset manager at $2.1 billion. La Trobe currently manages $16.3 billion and has grown its assets by over $2 billion in just the last year, riding a wave of private credit demand in Australia.
Why It Matters?
Even with regional conflict, Abu Dhabi’s newer funds like Lunate are proving to be restless buyers. This deal strengthens the bond between the Gulf and Brookfield, one of the largest foreign investors in the Middle East. It shows that while the world watches the war, the region’s wealth continues to find safe, high-yield places to grow in the Asia-Pacific region.
What’s Next?
The deal should close by the third quarter. Look for Lunate to continue its "prolific" streak; having already bet on OpenAI, the fund seems focused on high-growth tech and alternative finance firms that can weather global economic swings.
👨💻From Smashi Business’ Desk
US billionaire Bill Ackman has launched a €55bn bid to take Universal Music Group private
Dubai-based Independent Food Company is hiring across roles including marketing, content and hospitality.
In a striking move that defies industry trends, Alsayegh Worldwide has made a bold commitment to its workforce. Leadership vows there will be no salary reductions and no job losses through 2026.
Saudi Research & Media Group (SRMG) is rewriting the rules of media in MENA.
Semafor is doubling down on the Gulf. The Semafor is expanding to a five-day publishing schedule, scaling hiring, and growing its events business as global attention on the region surges.
Telegram founder and UAE citizen Pavel Durov said Iran’s ban on the platform has led to widespread VPN usage rather than adoption of state-backed messaging apps.
🔍In other news…
🦄 World of Startups
Egypt’s Lucky Raises USD 23M Series B. Its Consumer Credit Model is Expanding Into North Africa
“We Got Funded!” Maison Safqa Raises US$620,000 in Pre-Seed Funding to Expand Luxury Flash-Sale Platform Across GCC
Via Separations, US-based deeptech startup, raised $36M in funding from Aramco Ventures (Saudi), and other global investors.
