An Abu Dhabi firm backed by Mubadala Investment Co. is building out its investment team with key hires from the country’s sovereign wealth funds, according to people with direct knowledge of the matter.
Group 42 tapped Christoph Koster, an ex-official at Abu Dhabi Investment Office, as head of investment strategy and investor relations, said the people, who requested anonymity as the information is private. Jon Nieman, who was senior portfolio manager for the emerging opportunities mandate at the nation’s largest wealth fund Abu Dhabi Investment Authority, will be head of investments, they said.
A spokesperson for the firm confirmed the hires. The moves underscore the expansion of G42, an AI and cloud computing company, with operations spanning from energy to healthcare and autonomous vehicles. Sheikh Tahnoon bin Zayed, the UAE’s influential national security adviser and brother to Abu Dhabi’s crown prince, is its chairman.
Koster and Nieman are among those reporting into Chief Investment Officer Tariq bin Hendi, who’s looking to hire more money managers from other Abu Dhabi-based investment firms, the people said.
The company also hired former McKinsey & Co. partner Raffaele Breschi as its Group Chief Growth Officer, where he’ll focus on expanding the firm’s artificial intelligence and technology portfolio.
Innovative Deals
Last year, G42 formed a joint venture with Beijing-based Sinopharm CNBG, marking the first overseas manufacturing of the Chinese vaccine. It also became the first Emirati firm to open an Israel office after the nations normalized ties in the so-called Abraham Accords and rolled out the Middle East’s earliest driverless car trials. Meantime, the firm’s Artemis supercomputer is behind a national genome sequencing program.
Koster, who followed bin Hendi to G42 from ADIO, previously was head of strategy for private banking at Dubai-based Emirates NBD Bank PJSC. Nieman has held investment roles at State Street Corp. and Saudi Aramco, specializing in alternative assets like royalties, sports deals and aircraft leasing.
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