The U.S.-U.A.E. Business Council convened a select group of industry leaders for a meeting on Thursday, December 12th as part of Abu Dhabi Finance Week to help announce and celebrate the recent partnership announcement between G42, a Founding member of the U.S.-U.A.E. Business Council, and Inveniam, a U.S. company specializing in data management for private market assets. This event took place at the ADGM Chairman’s Boardroom in Abu Dhabi and featured Jonathan Nieman, Head of Investments at G42, Patrick O’Meara, Chairman & CEO of Inveniam, and Tara Stacom, Executive Vice Chair of Cushman & Wakefield, a key partner of Inveniam and a leading global real estate services firm.
In his welcome to attending guests, Eric Gaudiosi, Deputy Chief of Mission at the U.S. Embassy Abu Dhabi, lauded this landmark agreement as a unique bilateral partnership that reflects the broader flourishing of the AI and advanced technology relationship. He also said the partnership clearly exemplifies the innovative spirit shared by American and Emirati companies.
G42 and Inveniam have partnered to launch the Saa’il Initiative, which aims to be the world’s first derivatives marketplace for real world assets and commercial real estate. The platform will combine ADGM’s supportive regulatory framework, G42’s AI infrastructure, Inveniam’s decentralized data management solutions, and Abu Dhabi’s strategic location to accelerate AI adoption for enterprise clients and further establish Abu Dhabi as a global financial center. Cushman & Wakefield partnered with Inveniam in 2023 to adopt their technology and take a step into furthering the global trade of private market assets with real-time data surveillance, demonstrating the ways Inveniam’s technology creates opportunities to benefit their clients who depend on reliable data.
G42 aims to utilize this partnership to address challenges for private markets including inefficiencies, lack of transparency, and reliance on outdated processes, and to unlock the potential of AI to revolutionize the way private assets are valued, managed, and traded. Mr. Nieman stated that Inveniam’s innovative technology and leadership make it the ideal partner for G42 to drive meaningful change in private markets globally, which represent the largest asset class in the world. He added that Saa’il is projected to exceed $1 trillion daily in trading volumes within 5 years of launch, fortifying Abu Dhabi as a leading global financial center.
Inveniam is a leading fintech company for asset managers and investors to maximize liquidity and value for private market assets. Mr. O’Meara described how Inveniam’s technology enables private assets to be managed, shared, and traded with the efficiency of public markets, while keeping sensitive data secure and in the clients’ systems using agents. Together, Inveniam and G42 will offer solutions that deliver trust in the value of underlying assets for investors exchanging billions of dollars daily on private market funds, indices, derivatives, and eventually, the underlying assets. He stated that Inveniam chose Abu Dhabi to house its technology because of Abu Dhabi’s leadership, their vision to embrace future technologies, and Abu Dhabi’s investment in innovation and AI.
Inveniam’s technology can be applied to all private markets but their partnership with real estate and private equity firms enables the trading of data rich and low frequency assets. Ms. Stacom discussed the Saa’il Initiative’s impact on private markets, particularly in the real estate, private equity, and private credit sectors. She emphasized that the acceleration of AI adoption will allow for greater transparency and ease of trading for enterprise clients, creating significant economic impact for Abu Dhabi. She stated the Saa’il initiative can be leveraged by different consultancies for their clients to create greater efficiency in private market trading.
Please see here for G42’s official announcement of the partnership and here for Inveniam’s official announcement of the partnership.
For questions about this event, please contact Amira Siddiqi at asiddiqi@usuaebusiness.org. For more information on the U.S.-U.A.E. bilateral technology relationship, please see the U.S.-U.A.E. Business Council’s recent report on the “U.A.E.’s Big Bet on Artificial Intelligence“.
