Pinebridge Investments appoints Middle East CIO
PineBridge Investments has added to its growing Middle East, North Africa and Turkey team with the appointment of Wael Aburida as chief investment officer.
Aburida will lead PineBridge’s MENA private equity and real estate team, with responsibility for deal origination, negotiations, execution, portfolio management, and exits. Based in Bahrain, he will report to Talal Al Zain, chief executive officer at PineBridge Investments Middle East.
Talal Al Zain said: “We will continue to strengthen our team in order to capitalize on the region’s demand for investment opportunities.”
Aburida joins from UAE-based Waha Capital where he was director of Mergers & Acquisitions, and was previously director of the Global M&A Group for Intel Corporation, based in the California global headquarters. He was also managing director of Nollenberger Capital Partners and DCA Partners, both located in Northern California.
Wael Aburida noted that while private equity is slowing in some developed markets, there is significant regional demand for proprietary private equity and real estate deals. “We will be capitalizing on this demand for high quality direct investment opportunities, rigorous due diligence and active portfolio management of investments.”
With a flexible platform, he intends to partner with investee companies to provide one source of capital and unlock value in their real estate holdings.
“Our real estate investment strategy is centred around income-generating assets in the GCC markets. From a private equity perspective, we are focused on growth investments into business services, social infrastructure and industrial and manufacturing companies serving the growth-oriented demographics of the region,” he explained.
The firm is targeting oil and gas services, and downstream opportunities in the oil and gas value chain. “With our international network, strong commercial and governmental links in the region and global platform, we will be a value-added partner to our portfolio companies by funding their growth needs, helping them expand and grow their footprint both organically and inorganically and providing advice on both strategic and operational matters,” said Aburida.
In July 2012 PineBridge received a Category 1 License from the Central Bank of Bahrain. PineBridge Investments Middle East B.S.C. (c) is the regional headquarters for the Middle East, North Africa and Turkey. It serves a diverse set of clients in a range of investment categories, including large institutions and private clients.
The firm managed $71.5bn for institutional and individual investors worldwide as of 31 March 2013.