New York-headquartered Alpha Wave Global’s investments to date include the likes of Uber, Alibaba Group, DealHub, Lyft, and Revolut.
The company, which has strong ties to capital sources in the United Arab Emirates, is also a backer of companies owned/part-owned by Elon Musk, including The Boring Company, SpaceX, and the platform-formerly-known-as-Twitter, X.
Now, Alpha Wave (AW) has revealed another investment: music company Gamma.
AW invests capital in companies via both private and public funds, as well as private credit loans.
Gamma’s logo recently appeared under the list of investments that have been made by AW on the latter company’s website.
Running AW’s corporate website through the Wayback Machine shows that Gamma‘s branding was added to the investment co’s homepage in the first half of this month – suggesting that this is a move that has been finalized in recent weeks.
Rick Gerson, co-founder and Chairman of Alpha Wave Global, has joined Gamma’s board, according to his updated profile on The Marque.
In November 2022, Alpha Wave Global teamed with Chimera Capital – an Abu Dhabi-based private investment firm – to launch a USD $2 billion private credit fund.
In a press release announcing that fund, the companies said that they aimed to use the $2 billion to “develop a diversified portfolio of credit investments reflecting attractive risk-reward characteristics irrespective of the path of interest rates and in the context of growth in the private market for credit solutions”.
The two companies added: “[This] fund will invest primarily in private loans, as well as other credit instruments on an opportunistic basis.
“The fund has a global mandate, with a primary focus on the US, Canada, UK, EU, and Australia, and will seek to identify situations and themes where capital shortages or idiosyncratic reasons result in attractive investment prospects.”
“Together with our partners at Alpha Wave Global, we bring the expertise and access needed to position the fund for success, and ambition to continue playing an active role in cementing Abu Dhabi’s position as a global hub for capital solutions.”
Syed Basar Shueb, Chimera Capital, announcing a $2bn private credit fund with Alpha Wave in late 2022
Syed Basar Shueb, Chairman of Chimera Capital, commented at the time: “Together with our partners at Alpha Wave Global, we bring the expertise and access needed to position the fund for success, and ambition to continue playing an active role in cementing Abu Dhabi’s position as a global hub for capital solutions.”
Chimera Capital is owned by Chimera Investment LLC, part of Royal Group, an Abu Dhabi investment firm that employs more than 27,600 people globally.
Royal Group is chaired by Sheikh Tahnoun bin Zayed Al Nahyan, the United Arab Emirates’ national security adviser; he is the son of the late Zayed bin Sultan Al Nahyan – the founder of the United Arab Emirates – and the brother of the modern-day President of the UAE (and ruler of Abu Dhabi), Mohammed bin Zayed (MBZ).
Alpha Wave – known as Falcon Edge until 2021 – previously teamed up with Chimera to co-manage a private venture fund, which closed $10 billion of investment.
That fund, Alpha Wave Ventures II, made investments in companies such as Twitter (now X), Revolut, and Athletic Greens.
Gamma launched in March last year.
According to a press release, the Los Angeles-headquartered company was initially backed by financing from the likes of Eldridge Industries and Apple.
At launch, the firm announced its acquisition of distribution and services company Vydia, founded by Roy LaManna, which has previously worked with artists including Akon, Kanye West, Mr Eazi, and Anuel AA.
Gamma was founded by Larry Jackson – A&R impresario, and formerly Global Creative Director of Apple Music.Music Business Worldwide
