Within the PE division at ADIA, it seems like you get to work on some headline deals as co-investors alongside megafunds. But is this experience worth it as an associate? What is the exact compensation like as an associate, senior associate, investment manager, etc? Would it be a career killer to move to Abu Dhabi to work for ADIA when I'm at a top BB looking to recruit for PE?
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1 - If you leave to go to Abu Dhabi, it would be difficult to find high quality roles back in the US. Not impossible, just difficult.
2 - SWF are a mixed bag. I’ve entertained some inbound convos over the years, far and away messaging was “look, if you want to have a $30m penthouse apartment, stay at MF, this isn’t the model where that’s an outcome.” Provided most mid-level MF folks won’t be in that $30m penthouse either, but point is the upfront message was this is less lucrative than mainstream PE so if that’s the most important thing for you let’s part ways. The flipside is it’s much lower intensity. You’re tagging along on deals to coinvest because ADIA has a $2bn investment in X megafund. X is doing all the diligence and handing you a dili pack it with a bow. You have a DD call or two to feel like you’re doing your job, etc. So earnings meaningfully worse (on avg), lifestyle meaningfully better (largely without exception), intellectually will be less stimulating/challenging. There’s some exceptions to the rule here depending on carry structure, leverage etc. SWF perks are sometimes also quite insane. Round trip first class tickets to come home for you and the family a few time a year. Interest free mortgages, housing stipends, drivers, gross ups to offer US incomes. So a consideration.
3- Depending on how driven you are, could leave something to be desired. If you’re not Arab ethnically, there is a glass ceiling. You’ll work with a ton of folks that were hired because they are locals. You may report into a few of them, they may or may not be 9-5ers punching a clock and collecting a fat paycheck. Go look up the big SWF and see how many partners are named Brian vs. Abdul or Muhammad. Want to see even fewer Brians and Robs? Look up the investment committee members.
Thank you for your very thoughtful answer. I will make sure to keep this in mind when thinking about the opportunity with ADIA
Great writeup. Could you speak to MBA exits from ADIA by chance? PE associates at this SWF in particular seem to have great success in breaking into HSW.
Don’t know first hand, but knowing HSW, they would probably really eat up the heavy Int’l/ME-focused PE experience from a pre-eminent investment firm in the region.
Second, I don’t know how much ADIA prides themselves on getting kids into H/S, I know the MFs take it very seriously and market the fuck out of it for recruiting. If ADIA is similarly inclined, the IC at those places are typically comprised of multiple princes (literally) and they could easily get you in via a rec.
For an American, that would be the play. Go to ADIA for 2 years, go to H/S, then go to a solid US mainstream PE firm post-MBA.
Once you’re at ADIA beyond the Associate years, it becomes VERY difficult get a tier-1 role in the US. With it getting harder and harder the more time that elapses.
Once you pass ADIA, the cache of SWF falls off significantly. So I don’t think much of what I’ve said applies broadly to just any SWF.
Frankly, if you’re in a solid group at a BB, you can place pretty easily into PE in the US. I don’t know why you need to reach for a SWF unless there’s something specific and obvious about Abu Dhabi or ADIA that you’re really into.
sorry, but very interested in what an interest free mortgage is lol -- can you explain? thanks! also how does comp stack up vs mfs? can i just buy a $5mm place in abu dhabi, put $1mm down, and pay zero interest? sounds wacko
All of your comments are spot on and yet there’s this frankly subtle racist idea ‘Abdul’ is at the top because he’s Arab and yet you can’t see it the same in your own system. How many partners in your firms are named ‘Jamal’ and how many weren’t even looked or given the light of day in the first place?
Yet people tend to make the internalized assumption that ‘Abdul’ isn’t that smart and ‘Brian’ is all smarts, having nothing to do with the fact that the system hands down wealth based on cultural bias just like with ‘Abdul’. ‘Brian’ is also the head of that MF PE for the same reason. Yes, he’ll compete with ‘Chad’ the same way ‘Abdul’ competes with ‘Ahkmed’ in their climes, but ‘’Jamal’ in the west was already left behind in the ghetto on the basis that he was’nt good enough whereas you’ve overlooked how he ended up in the slums in the first place. ‘Brian’ got to go to Yale because his (grand)parents had benefits (and access to educational) that Jamal’s (grand)parents were excluded from. Or that ‘Chad’ went to Harvard because his father contributes an immense sum to the endowment, was an Harvard alumn himself and is also good friends with the MF PE fund founder.
Dude, no one here is saying that the white American system isn’t also unfair. OP of this comment was just making the observation that there is privilege and inequality in the Arabian system, too. Just like a white American is more likely to hire and promote a white American, an Arab is more likely to hire and promote an Arab. It’s totally unfair in both systems. And for the record, as someone who has spent significant time in both UAE and NYC investing roles, the Arabs tend to be a lot more racist. You better believe there aren’t any DEI initiatives in the Abu Dhabi finance world.
Dude, can it with your social justice warrior nonsense. This isn’t 2022.
Blatant and shameless nepotism is a real thing in the Middle East and at the SWF. It’s way worse than everywhere else. If you’re drawing an equivalence between implicit classism in society broadly and explicit racism and nepotism in the Middle East, you’re a moron.
Dubai, Abu Dhabi etc are DRAMATICALLY less meritocratic than the US.
You’re post is not only insufferable but also just dumb and uninformed.
I went to school in Abu Dhabi and my best friends had parents high up in ADIA, Mubadala and ADIC. I've had manakeesh with the Head of PE of one of these firms (won't disclose which one). I assure you from my experience and from what I've heard at the very top that Arabs are certainly advantaged within Emirati firms. This isn't London or NYC -- there are no BAME programs or DEI. OP is 100% correct in his assessment of this fact. Furthermore, I would like to second the claim that many Emiratis get spots in these companies due to their nationality first and foremost, and a good number of them have worked far less, and continue to work far less than their international counterparts. I hope this clarifies your confusion.
Disagree with this. Think it's more selection bias than anythign else.
There are plenty of Europeans at places like QIA in senior roles that are completely incompetent and wouldn't survive more than a week in a private company.
Just watch out for the Houthis launching rockets
Yeah it was all ‘Houthi’ rockets that destroyed Iraq and killed over 1million people, as Iraq’s gold and oil was stolen over pretence of ‘fighting terrorism’ and ‘defending’ yourself 10,000+ miles (over oceans) far away from home. Y’all are hilariously ignorant. ‘Educated’ but no critical reasoning. The Houthis are such bad guys for fighting close to their home but yours are such good guys for invading other nations. No wonder Trump is now president. Quite reflective of the average mind. Statistically, you should be more concerned about western bombs there than any others. You literarily have nuclear armed submarines stations all across the world and with over 800+ military bases and you can’t even see past your own nose.
Does anyone know the actual comp #s for ADIA?
I was offered 250k for infra division, that’s like 175 base and the rest bonus.
The real comp is the tax free income, housing and car allowance they give you (on top of base and bonus), and a number of other perks that just oozes Arab money.
How much was the car allowance and housing? That’s pretty dope
If I have 2 year experience in uk investment banking and 1 year mba from Oxford it is possible to get 175k base salary?
Hey, could you share some info around process / model ? PM would be appreciated!
Can you please give us more insight on the interview process please? thanks a lot!
Hi would you please mind sharing the case study please? Would be appreciated
Was that for an Associate or Senior Associate role?
Any insights on total comp?
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