The Abu Dhabi Investment Authority seems to be putting more emphasis on property investments. In two press releases over the last year (and this is a company that very rarely sends out press releases or communicates at all), ADIA has announced senior appointments to its property team.
In January, ADIA hired Bill Schwab from JP Morgan as their global head of property. And today, they appointed Tom Arnold, formerly of Cerberus, as head of Americas for the property team. Remember that ADIA is the world's largest sovereign wealth fund, with hundreds of billions of dollars worth of investments and a boat load of money it needs to invest every year. So, I'm sure Mr Schwab and Mr Arnold - or rather their secretaries - will be getting a lot of phone calls from old friends pitching deals.
The Abu Dhabi Investment Authority said today that it has appointed Tom Arnold as Head of Americas, Real Estate, with immediate effect.
Mr. Arnold, 51, will be responsible for developing and implementing ADIA's real estate investment strategy in the Americas region. He will be based in Abu Dhabi and report to Bill Schwab, Global Head of Real Estate.
With a career spanning more than 25 years, Mr. Arnold joins ADIA from Cerberus Capital Management, where he was a Managing Director since 2003 with responsibility for the origination and execution of real estate, lending, and private equity transactions. Prior to this, Mr. Arnold spent five years at ING as a Managing Director and senior real estate acquisitions officer, overseeing portfolio management and coordinating financing facilities. He also previously served as a senior acquisitions officer and strategic asset manager at Credit Suisse and Salomon Brothers (now Citigroup). He began his career in the early 1980s as a lawyer specialising in securities, tax, and real estate matters.
Commenting on the appointment, Bill Schwab, Global Head of Real Estate at ADIA, said: "Tom is a highly respected investment professional with wide-ranging experience and deep relationships across the industry. His arrival will further strengthen our team and play a crucial role in the development of ADIA's strategy in the important Americas region."
Mr. Arnold said: "ADIA is a unique organisation with a well-deserved reputation as a prudent and sophisticated investor and trusted partner. In real estate, ADIA has been particularly successful in nurturing partnerships with other leading investors that are mutually beneficial while remaining consistent with its strategic vision. I feel very fortunate to be part of such a world class institution."
The Abu Dhabi Investment Authority said today that it has appointed Bill Schwab as Global Head of Real Estate, based in Abu Dhabi, with immediate effect.
Mr. Schwab, 56, will be responsible for leading a dedicated team of professionals in managing and implementing ADIA's global investment strategy in the real estate sector. He joins from J.P. Morgan, where he was a Managing Director in the European Real Estate Finance division with responsibility for the origination and execution of real estate transactions. Prior to this, Mr. Schwab spent 5 years at Deutsche Bank as a Director in the Real Estate, Capital Structure & Underwriting department. He also previously served as Chief Lending Officer in the Real Estate division at Goldman Sachs and held a number of senior posts within the real estate and construction industries.
Commenting on the appointment, Majed Al Romaithi, Executive Director for Real Estate at ADIA, said: "Bill is a highly-regarded professional with broad knowledge and experience across all aspects of the real estate business and we are delighted to welcome him to the ADIA team. He will play an important role in guiding ADIA's investment strategy in this
exciting and constantly evolving sector."
Mr. Schwab said: "ADIA has an excellent reputation as an established and sophisticated real estate investor with a focus on sustainable, long term returns. I am very excited to be working with such a high caliber team and contributing to ADIA's continued success in the real estate space."
