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Abu Dhabi Investment Authority Makes Senior Hire in Real Estate

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.”

read more: Abu Dhabi Investment Authority

Asian Sovereign Funds Not Slowing Down on Tech Investing

According to data from SWFI’s Sovereign Wealth Fund Transaction Database, Asian sovereign funds invested US$ 6.05 billion directly into companies and assets in the information technology sector from Jan 2017 to November 22, 2017. In a comparable time frame from Jan 2016 to November 22, 2016, this same group of Asian sovereign funds directly invested US$ 5.02 billion in the sector. These are direct investments, not fund commitments or manager allocations.

Asian sovereign funds such as GIC Private Limited, Temasek Holdings and the Korea Investment Corporation (KIC) have demonstrated bullish signals to the technology community over other sectors. GIC and Temasek have also been major investors in the private side of deals, funding a wide range of tech startups, while providing financial firepower in buyout transactions.

Some notable direct tech investments in 2017 by sovereign funds include Meituan-Dianping, SoundCloud, Nets A/S, Visma AS, Turn, Inc. and Vantiv.

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Future Fund Makes a Guardian Out of Former J.P. Morgan ANZ Chair

The Australian government has appointed Robert Priestley – current non-executive chair of J.P Morgan for Australia and New Zealand (ANZ) and a non-executive director of ASX – to serve on the Future Fund Board of Guardians for a five-year term from November 7, 2017. Priestley replaces former Morgan Stanley Australia chief executive Steven J. Harker.

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Associated British Ports Reboots Property Development Arm to Capitalize on Land Bank

Associated British Ports (ABP) – operator of 21 major ports throughout the United Kingdom – has announced a reboot of its ABP Property division, complete with a new team of specialists in commercial development and logistics led by Huw Turner, in order to identify and develop strategically significant locations in its 2,372 acre land bank.

ABP is owned in large part by a consortium of pensions and sovereign funds, including the Canada Pension Plan Investment Board (CPPIB) at 33.88% ownership, OMERS at 30%, Singapore’s GIC Ventures Pte Ltd at 20.00% ownership, and the Kuwait Investment Authority at 10.00% ownership. Large institutional investors such as sovereign funds, pensions, and endowments have slowly increased allocation towards infrastructure over the past six years as an alternative to equities and bonds, according to asset allocation data from SWFI.

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