Abu Dhabi’s SWF said to hire Axa Private Equity COO

  • Share via facebook
  • Tweet this
  • Bookmark and Share
Abu Dhabi Investment Authority's headquarters in the UAE capital.

Abu Dhabi Investment Authority's headquarters in the UAE capital.

Christophe Florin, chief operating officer of Axa Private Equity, has left to join the Abu Dhabi Investment Authority, according to three people with knowledge of the matter.

Florin, who was also a member of the executive board of French insurer Axa SA’s private-equity unit, will head ADIA’s emerging markets private-equity team, said the people, who declined to be identified because the appointment has yet to be announced. He’ll be based in Abu Dhabi, they said.

ADIA, one of the world’s biggest sovereign wealth funds, is boosting its private-equity team as it seeks to increase its ability to invest in buyout funds and deals. It has mandated two London-based recruitment firms to find about 40 private-equity professionals in London and Europe, two of the people said. Florin’s hire follows the December appointment of Benjamin Weston, chief executive officer of Helvetica Wealth Management Partners, as global head of alternative investments.

Officials for Axa Private Equity and ADIA declined to comment.

Florin, who joined Axa Private Equity in 1998, was head of the firm’s Asian operations between 2005 and 2008, before returning to Paris to take on his latest position. He is leaving just as Dominique Senequier, Axa Private Equity’s CEO, works on a spinoff of the Paris-based firm, which manages US$28bn of assets.

Abu Dhabi, capital of the UAE and home to about 7 percent of the world’s proven oil reserves, is trying to diversify away from oil by investing globally. It set up ADIA in 1976 to manage proceeds from its oil wealth. ADIA, which doesn’t invest in the UAE or typically in the Gulf Arab region, had assets valued at US$328bn at the end of 2008, according to economists at the New York-based Council on Foreign Relations, the latest available data.

ADIA, in March, appointed Eduardo Favrin as head of Latin America in its internal equities department from HSBC Global Asset Management. It named Pascal Duhamel as head of its European real estate investments a month earlier. Duhamel joined from Carrefour Property in Paris, where he was the chief executive officer since 2008.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Dubai mulls rule change to lure more domiciled funds

Dubai mulls rule change to lure more domiciled funds

Proposed rules would create a new class of funds in the Dubai...

Gulf's rift over Qatar may slow investment, reforms

Gulf's rift over Qatar may slow investment, reforms

Analysts suggest dispute may not hurt immediately but could impact...

Dodgy data obscure reality of Gulf's economic boom

Dodgy data obscure reality of Gulf's economic boom

Economists say that as Gulf opens wider to foreign investment...

Most Discussed
  • 54
    Three UAE women attacked with hammer at London hotel

    I really feel that Arabian Business.Com should now close this comments page. This should be all about sympathy for the families not what it is/has turned... more

    Wednesday, 16 April 2014 1:06 PM - Adrienne
  • 51
    Why Dubai isn't a plastic city

    What is definitely not a plastic city. The Arabs have a culture dating back to several centuries. 50 years back Dubai was just a fishing village. Today... more

    Tuesday, 8 April 2014 3:49 PM - P. MADHUSUDAN
  • 48
    DMCC boss Ahmed Bin Sulayem entertains Robert Mugabe in Dubai

    @fga ''However today, simply because he decided to dispossess a few white farmers of their land and redistribute to the poorer indigenous blacks'' more

    Sunday, 13 April 2014 3:02 PM - Matt Williams