• Ghaf Benefits combines advanced technology, institutional expertise, and diverse investment options to empower employers and employees 

Abu Dhabi – Lunate Capital LLC (“Lunate”), an Abu Dhabi-based global investment manager, today announced a strategic engagement with industry-leading service providers to support the operations of its Alternative End-of-Service Benefits fund platform, Ghaf Benefits (“Platform”). These include BNY, the world's largest custodian overseeing more than $50 trillion in assets, and SS&C Technologies (“SS&C”), a global provider of critical technology and services for the financial services industry.

Ghaf Benefits is an Alternative End-of-Service Benefits fund platform dedicated to enhancing workplace benefits for private sector employers and employees in the UAE, offering a choice of six investment funds, including both conventional and Shariah-compliant options. As the designated Fund Manager and Administrator, Lunate has appointed specialized service providers to enhance the Platform’s operational efficiency and to provide advanced technology solutions.

Ghaf Benefits is among the UAE’s first digitalised end-of-service benefits platforms, offering innovative features such as an automated asset allocation system for member contributions and the flexibility to allocate past and future contributions across multiple funds through an intuitive employee portal. The Platform will streamline gratuity management for employers through digital onboarding, automated contribution processing, and comprehensive compliance support. For employees, the Platform provides real-time contribution tracking, access to a diversified range of investment options, and a user-friendly portal. Through the Platform, employers and employees will benefit from institutional-grade fund management, professional administration services, and robust security measures that are provided by Lunate with support from these global service providers.

Seif Fikry, Managing Partner at Lunate, commented, “We are proud of our engagement with globally renowned service providers such as BNY and SS&C to bring Ghaf Benefits to life. These strategic engagements reflect our commitment to leverage the expertise of industry leaders with proven capabilities in managing large-scale pension platforms and providing world-class financial advisory services. This engagement will enable Ghaf Benefits to seamlessly integrate cutting-edge technologies with deep investment expertise, supporting the UAE’s vision of a more attractive and rewarding work environment. Together, we are transforming end-of-service benefits in the region — simplifying benefits management for employers while creating opportunities for employees to build long-term financial security.”

Hani Kablawi, Head of International, BNY, said: “In collaboration with Lunate Capital, BNY is delighted to provide custody services for its new End-of-Service Benefits scheme in the UAE.”

Nick Wright, Global Head of Global Investor & Distribution Solutions at SS&C, said: “We are thrilled to partner with Lunate to launch Ghaf Benefits. The End-of-Service Benefits market represents a key growth opportunity in the UAE, a market we are dedicated to investing in. We look forward to working with Lunate to provide private sector employers and employees with access to this new benefits scheme through our exceptional service and leading-edge technology.”

BNY, in its role as the sub-custodian, will provide custody services for international securities across multiple markets, drawing on its extensive experience serving major global pension funds.

SS&C, a trusted service provider to more than 22,000 financial services and healthcare companies worldwide, has been appointed by Lunate as Administrative Services and Primary Technology Provider. The firm is responsible for managing the Platform’s technological infrastructure and bilingual call center operations. SS&C has experience in administrating large-scale plans across multiple geographies.

Reflecting the growing interest in Ghaf Benefits from leading organizations, Lunate has entered into Memorandums of Understanding (MoUs) with ADQ, a sovereign investor with a focus on critical infrastructure and global supply chains, and International Holding Company (IHC), the most valuable holding company in the Middle East and one of the world’s largest investment companies with over 1,200 subsidiaries, to explore the enrolment of their employees and those of IHC’s subsidiaries in the Platform.

The UAE’s Alternative End-of-Service Benefits Scheme was first approved by a Cabinet Resolution in 2023 as a voluntary scheme designed to enhance financial security for UAE-based employees. For more information, employees and employers can reach out to eosb@lunate.com or visit www.ghafbenefits.com.