John Pandtle joined the Abu Dhabi Investment Authority as head of U.S. in its internal equities department, said a spokesman for the sovereign wealth fund.
The position is new. Mr. Pandtle is responsible for building a small team that will build and manage the U.S. portfolio in internal equities, the spokesman said. ADIA also has U.S. portfolios in its external equities and indexed funds departments, but these will not be affected.
Mr. Pandtle is based in Abu Dhabi, and reports to Greg Eckersley, global head of internal equities.
“(Mr. Pandtle’s) extensive knowledge of the U.S. market, experience of managing sizable portfolios, and his proven ability to build successful teams, make him the ideal candidate to grow and oversee our internally managed portfolio in this all-important market,” said Mohamed Darwish Al Khoori, executive director, internal equities department, in a news release.
The sovereign wealth fund does not disclose its assets, but the Sovereign Wealth Fund Institute estimates that it has $773 billion of assets. ADIA’s target allocation to developed markets equities is between 32% and 42%, its website said.
Mr. Pandtle was previously a portfolio manager at Eagle Asset Management, responsible for constructing and managing portfolios and producing research in the financials, materials and utilities sectors, the news release said. A spokeswoman for Eagle Asset Management could not be reached for comment by press time.