Abu Dhabi Investment Authority appoints Sherwood Dodge as PE head

Abu Dhabi Investment Authority (ADIA), one of the sovereign wealth funds of UAE representing The Emirate of Abu Dhabi, has appointed Sherwood Dodge as global head of its private equities department, it said in a statement.

The appointment will come into effect immediately. The role was previously held by James Kester, who left the fund in 2013. Dodge will report to Hamad Al Dhaheri, executive director of ADIA’s private equities department. 

In this role, he will draft the fund’s strategy in private equity, oversee the department and make investment recommendations to ADIA’s investment committee. His responsibilities encompass private equity funds, principal investments, secondary fund investments and private credit.

Dodge joins ADIA after spending around 25 years with General Electric Co, where he held a number of senior positions across its financial services businesses globally.

In the most recent role, he was deputy chief executive officer and board member of Hyundai Capital Services and Hyundai Card, joint ventures between GE and the South Korean car maker for auto finance and credit cards, respectively. 

“With a distinguished career in private equity investing around the world, (Dodge) is a valuable addition to an already strong team,” Hamad Shahwan Al Dhaheri, executive director, private equities department, said in the statement.

Dodge holds a Bachelor of Arts in Political Science from Denison University, Ohio, the US.

ADIA’s private equities department invests globally through externally managed funds and through investments in private companies, typically alongside external partners.

Primary fund investment activities are broadly organised geographically across North America, Europe and emerging markets, while venture capital, private credit and distressed credit divisions invest with a global mandate. 

ADIA that has been an active investor in the public equities side as a portfolio investor has a growing presence in India in the private investment business too. In particular, it has backed realty funds floated by Kotak, Hines and most recently backed HDFC's new affordable housing fund.

Although it doesn't disclose its assets, it is believed to be one of the world's top three sovereign wealth funds.

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