Japan-based telecommunications and internet group SoftBank has hired Faisal Rehman to head investments for its Vision Fund in the Middle East, The National has reported.
Rehman came from financial services firm Deutsche Bank where he was co-head of its finance and solutions group in Central and Eastern Europe, the Middle East and Africa. He will join Softbank Investment Advisers, which oversees Vision Fund’s activities.
Vision Fund reached its last close in November 2017 having raised a total of $97.7bn that included $45bn from Saudi Arabian sovereign wealth fund Public Investment Fund and a $15bn contribution from the Abu Dhabi-owned Mubadala Investment Company.
Another sovereign wealth fund, Bahrain’s Mumtalakat, has been touted as a potential limited partner for the fund as it seeks a final $100bn close, and SoftBank chief executive Masayoshi Son has said the company intends to raise a series of successor funds.
Rajeev Misra, CEO of Softbank Investment Advisers, said in a statement quoted by The National: “The creation of the regional head role is an important first step in helping portfolio companies to expand their operations in the region and exploring collaboration opportunities with our strategic investors.
“Faisal is a well-established industry veteran with a long track record in Saudi Arabia and the United Arab Emirates. His transaction experience and track record in building a franchise across public and private sectors in the region will be hugely valuable.”
Misra is also an alumnus of Deutsche Bank, having been global head of credit in emerging markets between 2001 and 2009, as is Colin Fan, formerly Deutsche Bank’s co-head of investment banking before joining the fund as a managing partner in June 2017.
