Boron nitride nanomaterials consist of a hexagonal lattice of sp2 hybridized alternating boron and nitrogen atoms. They can exist in one-dimensional nanotube form and as two-dimensional nanosheets. Their high thermal stability, and optical transparency in the visible range, among other properties, make them compelling materials for a wide range of applications. This thesis discusses the study of aqueous dispersions of hexagonal boron nitride with surfactants, encapsulating a Ru (II) photoluminescent metal complex inside boron nitride nanotubes, and dispersing carbon and boron nitride nanotubes in a photoluminescent surfactant. Chapter 1 introduces the nanomaterials discussed, while Chapter 2 reviews the different methods reported for the exfoliation and dispersion of hexagonal boron nitride. Chapter 3 describes the study of the exfoliation of hexagonal boron nitride using nine different surfactants and the assessment of the dispersion yield, exfoliation quality, and stability over time of the dispersions. Chapter 4 explores using boron nitride nanotubes to encapsulate a Ru (II) photoluminescent metal complex. We produced a series of samples with increasing loading of the metal complex and studied the changes in their photophysical properties. Chapter 5 examines using a photoluminescent surfactant derived from a Ru (II) metal complex to disperse either carbon or boron nitride nanotubes and perform spectroscopic studies to elucidate their interactions. Finally, Chapter 6 presents a conclusion for the projects discussed throughout the work.