"Godan Finance" Launches its business with its first strategic investment in Alpha Wave Global

ABU DHABI, 9th March, 2017 (WAM) – Jodan Capital, a subsidiary of the International Holding Company (IHC), today announced its first strategic investment with a 50.1% stake in the American investment management company, Alpha Wave Global.

This deal constitutes the first strategic acquisition since the launch of “Judan Capital” to consolidate its global presence in the field of asset management, which strengthens the platform’s position as one of the leading international institutions in the financial services sector.

Alpha Wave Global manages approximately $29 billion in assets across four core areas, including private equity, private insurance, public markets, and insurance.

The company’s team includes 116 specialists working from 11 offices around the world, and its headquarters is in Miami, Florida.

AlphaWave’s private equity platform is known for its extensive investments in high-growth, blue-chip companies driving the AI ​​landscape, including SpaceX (AlphaWave’s largest investment), Anthropic, OpenAI, Cerebras, RAMP, and Long Lake Management.

The company focuses on investing in institutions that are candidates to benefit from artificial intelligence applications, and has an active and specialized group in the life sciences sector.

In the field of private insurance, Alpha Wave provides direct financing to companies through priority private loans in the United States, Europe and Australia, which meets the financing needs of companies and contributes to achieving stable income flows for investors.

Alpha Wave continues to operate under the leadership of its current management team headed by Co-Founder, Chairman and CEO Rick Gerson, along with Co-Founders Navroz Udwadia and Rayan Khoury.

The company recently announced the appointment of Francis Suarez, former mayor of Miami, as president of the company, in a move that strengthens its senior leadership team.

With the support of Judan Capital, Alpha Wave is poised to accelerate the growth of its newly established segment in the US specializing in life insurance and retirement solutions powered entirely by artificial intelligence.

This sector aims to launch a provider of life insurance and retirement solutions based on artificial intelligence from beginning to end, contributing to a radical transformation in the underwriting, distribution and customer experience processes through comprehensive integration of artificial intelligence.

With the life insurance industry in the United States being a fundamental pillar of American financial security for more than two centuries, this sector today is ripe for radical innovation based on first principles, and Alpha Wave seeks to redefine the future of the sector through technology and data-driven intelligence.

In this context, Alpha Wave appointed Joe Norton, one of the prominent leaders in the insurance sector, as CEO of its insurance business, who previously held the position of Chief Operating Officer at EquiTrust, in addition to holding leadership positions at Guggenheim, FBL Financial, and Athene.

His Excellency Muhammad Hassan Al-Suwaidi, Minister of Investment, Vice Chairman, Managing Director and CEO of Jodan Financial, said: “Alpha Wave represents a model for the partners that we seek to attract within the Jodan Financial platform. It is a prestigious global company that focuses on performance and supports the future of the financial sector. Thanks to its advanced capabilities in the fields of private equity, private credit, public markets and the insurance sector, in addition to its clear vision to drive innovation based on artificial intelligence in the financial services sector, Alpha Wave is an ideal strategic partner. Through this Collaborating, we will accelerate growth, strengthen institutional partnerships, and open new horizons for investors.”

For his part, Rick Gerson, co-founder, Chairman of the Board of Directors and CEO of Alpha Wave Global, said: “This partnership with Jodan Financial represents a turning point in Alpha Wave’s journey, and we look forward to moving towards a new phase of growth together. Thanks to the long-term capital base that Jodan enjoys, in addition to its extensive global investment portfolio, we enjoy a strong position that allows us to expand our investment platforms, enhance our global presence, and continue to support the most innovative companies in the world, which contributes to achieving sustainable returns.” For our investors within a disciplined approach to risk management… Our basic vision, which stems from our conviction that artificial intelligence represents the deepest transformation of our time, is directly aligned with the focus and expertise of Godan and the International Holding Company.”

For his part, Francis Suarez, President of Alpha Wave Global, said: “This partnership brings together global capital with technology-based innovation and long-term vision. With the expansion of Alpha Wave’s presence and the launch of its insurance platform, powered by artificial intelligence, Jodan Capital’s support enhances our ability to provide distinguished investment solutions to investors and clients in the United States and other countries.”

This investment represents a strategic step within “Judan Financial”’s journey to build a wide-ranging global financial services platform, with diversified activities, and supported by artificial intelligence. By combining the advanced global investment expertise of “Alpha Wave” with the established capital base of the “Judan” platform and its portfolio, which includes strategic ownership stakes in a number of financial institutions, the partnership enhances the company’s aspirations to shape the future of global asset management, while providing qualitative investment opportunities for international investors.

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