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
Just watch out for the Houthis launching rockets
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!
Any insights on total comp?
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