Tom Arnold Set to Head ADIA’s Real Estate Empire
Tom Arnold was named Global Head of Real Estate for the Abu Dhabi Investment Authority (ADIA), effective June 1, 2018. He is replacing Bill Schwab who has overseen the wealth fund’s property portfolio since 2009.
Arnold is being promoted from being deputy global head and head of Americas real estate at ADIA. Arnold joined ADIA from private equity firm Cerberus Capital Partners.
ADIA is a major sovereign wealth fund investor in real estate globally.
Olympic Park
In another bit of news, ADIA is attempting to sell its portfolio of flagship hotels located in Australia’s Sydney Olympic Park. ADIA acquired this hotel portfolio in 2013.

Blue Sky Alternative Investments Limited informed Canada’s Public Sector Pension Investment Board (PSP Investments) that it agreed to terminate its strategic agreement effective March 31, 2019. In December 2017, Blue Sky Alternative Investments forged an agreement with PSP Investments to assist in committing capital in a number of agricultural investments.
Mirae Asset Daewoo Co., Ltd., the Seoul-based investment banking firm, has provided a US$ 375 million loan for a redevelopment in New York’s Times Square. It joins L & L Holding Company, Maefield Development, and Fortress Investment Group who are bringing the development known as TSX Broadway to life. The building is at 1568 Broadway in Manhattan. TSX Broadway, a US$ 2.5 billion project when all equity financing is added in, will allow for renovations and expansion of the 46-storey building. An LED screen, which is not an uncommon sight in the Big Apple, will wrap around the corner of the tower. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
The Saudi Arabian government dispelled rumors that Saudi Crown Prince Mohammed bin Salman will acquire football club Manchester United. However, Saudi Arabia’s Public Investment Fund (PIF) had talks regarding sponsorship with the football club. Manchester United signed a partnership deal with Saudi Arabia’s General Sports Authority in 2017.
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