Yahoo Finance Abu Dhabi Wealth Fund Hires Brookfield’s Thomas for Buyout Unit
(Bloomberg) -- Abu Dhabi Investment Authority hired Brookfield Asset Management’s Julian Thomas as a senior member of its private equity business, according to people familiar with the matter.
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Thomas, a managing partner who heads strategic initiatives in Brookfield’s renewables unit, is set to join the sovereign wealth fund as head of Americas for its private equities department in the second half of the year, said the people, who asked not to be identified discussing personnel decisions. He will report to Jerome Mourgue D’Algue, ADIA’s global head of private equities, according to one of the people.
Representatives for Brookfield and ADIA declined to comment.
He’s currently responsible for fund strategy, capital-raising, co-investment and investment committee matters, according to Brookfield’s website. Thomas, who began at the Canadian firm in 2015, was previously chief investment officer of the renewables group.
ADIA, set up in 1976 to manage the oil surplus revenues of Abu Dhabi, has been channeling more of its funds into private equity investments in recent years. The fund historically has invested in a range of sectors and geographies from investments in insurance brokers or private health care in China to a generic drugs company in India.
Mourgue d’Algue was promoted to become sole head of ADIA’s private equities business last year after his co-head Sherwood Dodge departed. Mourgue d’Algue has spent more than a decade working at ADIA after starting as a senior portfolio manager in 2012.
Brookfield has seen several senior executives depart in recent years and the company has set in motion succession plans on a number of its units. Last month, Brookfield announced Hadley Peer Marshall would take over as its chief financial officer, replacing Bahir Manios who’s exiting the company after about two decades with the firm.
--With assistance from Gillian Tan.
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