Rudolph Waels

Originated international joint ventures across multiple sectors for a leading UAE family. Defined JV development process from opportunity screening through partner selection, structuring, and execution.

Senior Advisor — Mercer (Investment Consulting / OCIO). Engagements: Jul 2018 - Feb 2023; Jul 2025 - Present.

• Led business development and senior advisory engagements with sovereign wealth funds, pension funds, and family offices across the GCC.
• Designed investment strategy, target organisation, operating model, and investment processes for GCC institutional investors.
• Contributed to $750M in OCIO (Outsourced Chief Investment Officer) mandate wins.
• Led due diligence on the largest VC fund in the GCC ($940M VC commitments).
• Developed dividend policy and supporting financial model for the private markets and real estate arm of a GCC investor, safeguarding long-term financial sustainability.
• Prepared and delivered a financial modelling training for the investment team of a GCC sovereign wealth fund.
• Designed investment processes, JV operating models, and governance frameworks for the $5B investment vehicle of a SWF.

Boutique advisory serving sovereign wealth funds, institutional investors, and family offices on deal sourcing, investment structuring, governance, cross-border transactions, and international expansion.

• Investment & Strategy Advisory: Design governance frameworks, investment platforms, and cross-border growth strategies, including the Europe-MENA Growth Equity Fund.
• Sovereign Advisory: Deliver bespoke support to SWFs and public entities, including SME fund design, risk frameworks, and innovation ecosystem development.
• Family Office Solutions: Advise on investment strategy, governance, and operational restructuring of direct investment platforms and legacy assets.
• Due Diligence & Modeling: Conduct commercial and financial due diligence, business planning, dynamic financial modeling, and valuation to guide capital deployment, fundraising, and strategic decisions.

Selected 2010-2026 Engagements:
- SME Fund: Advised a Qatari institution on launching an SME investment vehicle for the MENA region.
- Cross-Border PE Fund: Structured a Europe-MENA growth fund to bring high-growth European companies to the GCC, developing investment strategy, deal pipeline, private placement memorandum, and capital raising materials.
- Family Office (KSA): Designed investment strategy and led origination, evaluation, and structuring of direct and co-investment opportunities for a GCC single family office.
- Family Office (UAE): Originated international joint ventures across multiple sectors for a leading UAE family. Defined JV development process from opportunity screening through partner selection, structuring, and execution.

Vice President, Investments & Business Development — Khalifa University (Endowment & Ventures).

Designed and executed the university’s investment, commercialization, and innovation strategy across 12 workstreams, ahead of transfer to a new subsidiary (KUEC); led initiatives in research funding, startup investment, and revenue generation through institutional restructuring.

• Investments: Led pre-seed and seed deals aligned with spin-out strategy (e.g., AI drone startup, vertical farming facility); built the investment governance framework, IC charter, and operating procedures.
• Business Development: Defined commercialization strategy; structured global partnerships including a MedTech initiative and an Abu Dhabi medical school campus; supported faculty consulting and executive education; reviewed a student housing PPP.
• Endowment & Fundraising: Benchmarked global research funding and deep tech models; monitored endowment performance; developed fundraising and donor engagement policies.
• FP&A: Led financial planning across major university projects, aligning capital allocation with strategic priorities.
• Deep Tech & MedTech Ventures: Executed the university’s first venture investments (AI, agritech, drone, vertical farming, MedTech) and structured an international medical campus partnership.

Adjunct Professor, Master of Banking & Finance — Paris Sorbonne University Abu Dhabi. 2014 - 2020.

• Taught Master’s and undergraduate classes covering the Middle East economy, sovereign wealth funds, and multilateral development banks (topics included Dubai’s financial crisis, GCC development strategies, FDI in the Middle East, and ethical challenges in financial services).

Director of Direct Investments & CEO Advisor — ICD, Islamic Development Bank Group (Jul 2014 - Feb 2016).

• Managed a $500M direct equity and debt portfolio across emerging markets; lifted investment quality through rigorous deal screening and active portfolio monitoring; delivered the institution’s highest performance in 15 years.
• Built and led a 20-member investment team across multiple geographies; launched the infrastructure investment division, opened new country offices, and developed new investment products.
• Led turnaround of distressed portfolio assets.
• Conducted due diligence on a regional Islamic bank acquisition; assessed and structured conversion of African investments into a $300M dedicated PE fund.
• $300M Growth Equity Fund: Assessed and structured conversion of African Islamic bank investments into a $300M dedicated PE fund.

Director of Investments — Aabar Investments, now Mubadala (Sovereign Wealth Fund). Sep 2009 - Aug 2010.

• Structured the German OEM-Algeria-Aabar automotive JV within a $10B sovereign industrial programme; led financial modeling, due diligence, and partner negotiations across international markets.
• Developed investment thesis and market entry strategy for the Chairman and Board; authored sector research across automotive, FMCG, and industrials, presenting recommendations to senior leadership.
• $10B Sovereign Industrial Programme: Structured German OEM-Algeria-Aabar automotive JV; led modeling, due diligence, and partner negotiations for the Chairman and Board.

Director, Private Equity — First Gulf Bank, now FAB (Commercial Bank, PE Division). May 2008 - Aug 2009.

• Sourced and assessed PE transactions across MENA; managed the bank’s PE portfolio through the 2008-2009 global financial crisis, leading restructurings, turnarounds, and exits; sourced a $25M regional co-investment club deal.

Vice President — Private Equity Fund — Swicorp. Oct 2004 - May 2008.

• Co-developed a $67M corporate venture capital fund with Danone (Danone Ventures); led PE sourcing and execution for $150M funds across North Africa.
• Originated deal flow, conducted financial modeling and valuation analysis, and prepared IC memoranda; managed portfolio monitoring and reporting across fund investments.
• $67M Corporate VC Fund (Swicorp/Danone Ventures): Co-developed and structured a corporate venture capital fund partnership with Danone.

Manager — Management Consulting & Transaction Services — Arthur Andersen / Ernst & Young. Oct 1996 - Apr 2004.
• Led due diligence and consulting engagements across sectors in Europe, Russia, the Middle East, and Africa.