The Abu Dhabi Investment Authority (ADIA) has unveiled its first senior real estate recruit since appointing Bill Schwab as global head of the division in January. However, as it looks to get involved in large commercial transactions, the sovereign wealth fund is currently on a recruitment spree to bolster its investment team in this sector.

The region’s largest SWF unveiled Tom Arnold, formerly a managing director at Cerberus Capital Management, as head of Americas, real estate this week. He’ll be responsible for developing and implementing the firm’s real estate investment strategy in the Americas, and is likely to be the first of many new hires.

We understand that the SWF is likely to recruit 12-13 people in the coming months as it looks to re-shape its real estate investment function.

“This has been planned for the last 18 months, but the hires are beginning to take shape now,” says a source close to the situation. “It has inadequate internal resources to handle the volume of direct real estate investment it has planned, and is therefore bolstering its team.”

It’s looking to build its research and development team, as well as hiring investment professionals in the US, Asia and Europe, says the source. ADIA wasn’t immediately available for comment.

The Gulf SWF was also thought to be scouring London’s investment banks, accountants and rival funds for a global head of real estate tax in September.

Schwab joined from JPMorgan in January, charged with leading a team to manage and implement ADIA’s global investment strategy in the real estate sector.

At the time, Majed Al Romaithi, executive director for real estate at ADIA, said: “He will play an important role in guiding ADIA’s investment strategy in this exciting and constantly evolving sector.”