The Abu Dhabi Investment Authority, which reportedly has $875 billion (€641 billion) of equity under management, has appointed JP Morgan managing director of European Real Estate Finance, Bill Schwab, as its global head of real estate.
In a statement, ADIA said Schwab would assume duties with immediate effect. The appointment comes more than six months after the search for a global head began.
ADIA said Schwab, 56, was appointed to oversee the fund’s global property investment strategy. Prior to working at JP Morgan, he was director in the real estate, structure and underwriting department of Deutsche Bank. He has also held the post of chief lending officer in the real estate division of Goldman Sachs among other senior posts.
Majed Al Romaithi, executive director for real estate at ADIA, said: “Schwab is a highly regarded professional with broad knowledge and experience across all aspects of the real estate business.
According to research by property services firm DTZ, ADIA has more equity under management than any other sovereign wealth fund. The firm says ADIA has $875 billion under management. The Government of Singapore Investment Corporation (GIC) has the second highest amount with just under $500 billion under management. Norway’s sovereign wealth fund has the third highest with about $375 billion under management.
The fund was established in 1976 with the strategy of securing and maintaining the current and future prosperity of the emirate with long-term investments. .
If you do not receive this within five minutes, please try to sign in again. If the problem persists, please email: 
