Judan Financial Acquires 50.1% Stake in Alpha Wave Global to Strengthen Global Asset Management Presence
Abu Dhabi, UAE: Judan Financial, a subsidiary of IHC listed on the Abu Dhabi Securities Exchange, has announced its first strategic investment, acquiring a 50.1% stake in US-based investment management firm Alpha Wave Global. This transaction marks a significant step in Judan’s strategy to expand its global asset management footprint and reinforce its position as a leading international investor in financial services.
Alpha Wave Global manages approximately USD 29 billion in assets across four main verticals: private equity, private credit, public markets, and insurance. The firm operates with a team of 116 professionals across 11 offices worldwide, with its headquarters in Miami, Florida.
The company’s private equity platform is renowned for large-scale investments in market-leading AI-driven companies, including SpaceX (Alpha Wave’s largest investment), Anthropic, OpenAI, Cerebras, Ramp, and Long Lake Management. Alpha Wave also focuses on companies positioned to benefit from AI applications and maintains a dedicated life sciences group.
In private credit, Alpha Wave provides senior loans to companies in the US, Europe, and Australia, while its public market strategy aims to generate uncorrelated return streams for investors.
The firm continues to operate under its existing leadership team, led by Co-Founder, Chairman, and CEO Rick Gerson, alongside Co-Founders Navroz Udwadia and Ryan Khoury. Recently, the company appointed Francis Suarez, former Mayor of Miami, as President, strengthening its senior leadership.
Supported by Judan Financial’s capital and strategic backing, Alpha Wave is poised to accelerate the growth of its newly established AI-native US life insurance and retirement solutions vertical. This sector is set to launch a fully AI-integrated life insurance and retirement solutions provider, transforming underwriting, distribution, and the customer experience.
The US life insurance industry, a cornerstone of American financial security for over two centuries, is now ripe for first-principles innovation, with Alpha Wave aiming to redefine the future of the sector using data-driven AI technology.
Joe Norton, a leading insurance executive and former COO of EquiTrust with prior leadership roles at Guggenheim, FBL Financial, and Athene, has been appointed CEO of Alpha Wave’s insurance business.
H.E. Mohamed Alsuwaidi, Vice Chairman, Managing Director & CEO of Judan Financial, said:
“Alpha Wave exemplifies the type of partner we seek—globally recognized, performance-driven, and strategically aligned with the future of finance. Together, we will accelerate growth, strengthen institutional partnerships, and unlock new opportunities for investors.”
Rick Gerson, Co-Founder and CEO of Alpha Wave Global, commented:
“Partnering with Judan Financial marks a transformative milestone. With Judan’s long-term capital and global network, we are well positioned to scale our investment platforms, expand our reach, and continue backing the world’s most innovative companies.”
Francis Suarez, President of Alpha Wave Global, stated:
“This partnership brings together global capital, technology-driven innovation, and long-term vision, enhancing our ability to deliver differentiated solutions across the US and beyond.”
This acquisition represents a major milestone in Judan Financial’s strategy to build a diversified, AI-enabled global financial services platform. By combining Alpha Wave’s established global investment capabilities with Judan’s long-term capital base, the partnership is set to accelerate Judan’s ambition to shape the future of global asset management and offer distinct investment opportunities worldwide.
