The Abu Dhabi Investment Authority (ADIA), the main sovereign wealth fund of Abu Dhabi and one of the largest funds of its kind in the world, has hired Sherwood Dodge as global head of private equities.
Dodge will set the private equity strategy for the fund, oversee the private equity programme and recommend investments to the fund’s investment committee. ADIA invests in private equity through externally managed funds and directly, through investments in private companies.
An employee of GE for 25 years, Dodge was the chief executive of the equity business of GE Capital, Americas, between 2009 and 2013. Previously he oversaw the same unit’s private equity investments in Europe while based in London. Dodge has also served as president of GE Capital Thailand.
Hamad Shahwan Al Dhaheri, executive director of the private equities department at ADIA, said Dodge’s “deep and wide ranging experience will play a leading role in further developing ADIA’s activities in the private equity space”.
In recent years, ADIA has increased the proportion of its assets that are managed in-house, rather than by external managers. Between 2013 and 2014, the fund “insourced” a tenth of its asset base.
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