Hmitti, who reports to William Douglas, Vistra's chief commercial officer, is based in Luxembourg. He will relocate later this year to the US.

The move follows the recent expansion of Vistra’s funds business after its merger with Tricor, a business expansion specialist in Asia. It also comes after Luxembourg-based Vistra Fund Management, part of Vistra Group, acquired the Kroll (Luxembourg) Management Company. See more commentary here. 

In the role, Hmitti will lead Vistra's funds business, overseeing the teams responsible for commercial, relationship management, product development, and digital solutions, the firm said in a statement. He will guide the business unit, driving innovative product development and ensuring a good digital experience for Vistra's clients.

Hmitti has joined from State Street where he had served in senior management roles since 2007 in the US and Europe. Most recently, he was the head of private markets in EMEA, where he focused on middle and back-office operations and relationship management in the alternative investment services unit, the firm added. Prior to State Street, he held management and leadership positions at Investors Bank & Trust.

“We work with almost 70 per cent of Private Equity International’s top 300 funds and with Abdel’s wealth of experience, he will be an invaluable leader in guiding the development of new services and offerings to further support our clients,” Douglas said. “We’re also excited about Abdel's plans to relocate to the US later this year to expand our funds solutions in this critical market.” 

Vistra’s funds solutions help deploy private capital faster around the world, delivering Limited Partner experiences and enhancing operational efficiency.