Abu Dhabi Staffs Up with US Equity Hire

Internal management is becoming increasingly important for the sovereign wealth fund.

The Abu Dhabi Investment Authority (ADIA) has hired its first head of US equities for its internal team, the sovereign wealth fund has announced.

John Pandtle joined from Eagle Asset Management where he was a portfolio manager. He spent five years at the Florida-based fund manager, and previously worked at its parent company Raymond James.

At ADIA Pandtle oversees a new team of US equity managers and is responsible for strategy within this sector of ADIA’s internal equities department. He has relocated from Florida to Abu Dhabi, and reports to Greg Eckersley, global head of internal equities.

Pandtle’s appointment is the third significant equities hire made by ADIA in two years. Brian Tipple joined the sovereign wealth fund in September to oversee its third-party managers, while Suresh Sadasivan was appointed in August 2013 to run Asian equities.

The sovereign fund—estimated to have roughly $773 billion in assets—has been bringing assets in-house in recent years. More than a quarter of its portfolio is now run internally.

Mohamed Darwish Al Khoori, ADIA’s executive director of internal equities, said Pandtle has “extensive knowledge” of the US market and a “proven ability to build successful teams”.

Related Content: Abu Dhabi Moves Further Away from External Fund Managers