SoftBank Investment Advisers (SBIA), which manages internet and telecommunications group SoftBank’s Vision Fund, has promoted Faisal Rehman to managing partner, Bloomberg has reported, citing people familiar with the matter.
SBIA recruited Rehman in August 2018 from financial services firm Deutsche Bank where he had spent nearly two decades. He oversaw Vision Fund’s deals in the Middle East as a United Arab Emirates-based partner.
US-based Ramzi Ramsey and UK-based Carolina Brochado have also been promoted, to partner positions at SBIA.
SBIA hired Ramsey in June 2018 as a director of Americas to focus on enterprise technology developers such as Automation Anywhere. Brochado joined SBIA six months later and has participated in deals for portfolio companies such as Gympass and Behavox.
In addition, corporate finance director Saba Ahmed, operating group executive Antoine Theysset and Aidan O’Connor, chief compliance officer for Americas, have also ascended to partners.
The promotions came in the wake of a series of high-profile departures from Vision Fund’s executive team in recent months, including former managing directors Praveen Akkiraju and Michael Ronen as well as founding partner David Thévenon.
SoftBank’s first Vision Fund closed at $98.6bn, and it is currently raising a reported $50bn for its second fund. SoftBank has committed $2.5bn itself and is seeking external investors.
The corporate is also in the process of raising $10bn of cash, half of which will come from its own funds, to provide support for portfolio companies.
Photo of Faisal Rehman courtesy of SoftBank Investment Advisers.
