Former Lebanese PM Saad Hariri registers SPV company at ADGM

Saad Hariri, the former Lebanese Prime Minister and businessman, is launching an investment firm in Abu Dhabi, Bloomberg has reported.

The 55-year-old, who served as Prime Minister of Lebanon for two terms, has registered his special purpose vehicle company, Genesis SPV Ltd., at Abu Dhabi Global Market (ADGM) on 23 May.

Hariri is listed as the sole shareholder of the company, according to the financial free zone’s filings.

Bloomberg added that the plan, which is in the early stages, is for Genesis to invest across the global technology sector, prioritising bets on artificial intelligence.

In the ADGM filing, the company said about its business activities: “Special Purpose Vehicle – holding ownership of equity and non-equity assets (not permitted to register branches – permitted to incorporate wholly or partially owned subsidiaries outside of ADGM).

Hariri and his representatives declined to comment.

Hariri made Abu Dhabi his main base in early 2022.