Naheta joins SoftBank Vision Fund

Akshay Naheta, chief investment officer of Knight Assets, has joined SoftBank to help manage the company’s $100bn fund that is backed by a range of sovereign wealth funds.

Akshay Naheta, chief investment officer of investment firm Knight Assets & Co, has joined the management team of the SoftBank Vision Fund, a $100bn vehicle backed by several sovereign wealth funds, Bloomberg reported on Tuesday.

The fund, announced in October 2016, is set to receive $25bn from telecoms group SoftBank and another $45bn from Saudi Arabia’s sovereign wealth fund Public Investment Fund.

Mubadala Development Company, the sovereign wealth fund of Abu Dhabi in the United Arab Emirates, is meanwhile considering providing between $10bn and $15bn. Qatar Investment Authority, the Qatar state-owned investment firm, is also considering a commitment.

Technology company Apple has committed $1bn, while contract manufacturer Foxconn, chip maker Qualcomm and the family office of Larry Ellison, co-founder of computing company Oracle, are also set to invest.

Naheta will be responsible for public equity investments and potential acquisitions. Knight Assets, which had been fundraising a $500m vehicle, will be wound down.

The news has not been confirmed by either Naheta or SoftBank, though it has also been reported by the New York Times, which additionally named Saleh Romeih, a senior banker from financial services firm Deutsche Bank, as a recent hire.

Naheta was formerly a trader at Deutsche Bank. Rajeev Misra, head of strategic finance at SoftBank and the Vision Fund, and adviser Nizar Al-Bassam both previously also worked at the bank.

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