Abu Dhabi's Adia appoints new global head of real estate to drive growth

Drew Goldman will join company from Deutsche Bank

The Abu Dhabi Investment Authority holds directly, or through its subsidiaries, investments across various asset classes including equities, fixed income, real estate and private equity. Stephen Lock / The NationalShow less

Abu Dhabi Investment Authority (Adia), the emirate's sovereign wealth fund, has appointed a new global head of real estate to drive growth and investment activities globally.

Adia, one of the world's biggest sovereign wealth funds, has appointed Drew Goldman to the position, effective from October 3, it said in a statement on Monday.

Mr Goldman will be “responsible, together with members of the senior management team, for guiding and implementing the department’s strategy and overseeing its investment activities”, it added.

He will join Adia from Deutsche Bank, where he has worked for more than 20 years, most recently serving in New York as global head of investment banking coverage and mergers and acquisitions.

Mr Goldman has extensive experience in managing a “diversified global business and advising on investment activities throughout the real estate sector”, said Mohamed AlQubaisi, executive director of Adia’s real estate department.

“His breadth and depth of experience will be an asset to the department as we continue to capitalise on our areas of existing strength, while increasing exposure to high-conviction themes,” Mr AlQubaisi said.

Established in 1976, Adia, which invests on behalf of the Abu Dhabi government, makes direct and indirect investments across asset classes including equities, fixed income, infrastructure, private equity and real estate.

The fund allocates between 5 per cent and 10 per cent of its investments towards real estate, spanning all major regions, sectors and asset types, its website says.