ADIA brings on former GE senior executive to lead private equity

The Abu Dhabi Investment Authority, one of the world’s biggest sovereign wealth funds with an estimated $770 billion of total assets, hired a former senior executive from GE Capital as global head of private equity.

Sherwood Dodge, whose appointment is effective immediately, will be responsible, along with other senior managers, for setting private equity strategy, overseeing the program and making investment recommendations to ADIA’s investment committee, according to a statement from the sovereign wealth fund.

Dodge will focus on private equity funds, principal investments, secondary funds and private credit, the statement said.

Dodge replaces former global PE head Jim Kester, who left ADIA in 2013. Dodge reports to Hamad Shahwan Al Dhaheri, executive director of ADIA’s Private Equities Department.

From 2009 to 2013, Dodge was CEO of the equity business of GE Capital, Americas, where he led private equity. At the same time, he also worked as head of corporate development at GE Capital, Americas, from 2011 to 2013, the statement said.

He also worked on GE Equity’s investments in aviation and energy along with co-investments with customers of GE Capital’s leveraged lending business.

From 1999 to 2005, Dodge oversaw GE Capital’s private equity activities in Europe. He also spent time as president of GE Capital Thailand.

ADIA has become a major force in private equity both as a deep-pocketed LP and a direct investor that competes with buyout firms. The SWF has built up its capabilities around co-investments and secondaries. In 2014, it sold a portfolio of private equity interests valued at more than $2 billion, Buyouts previously reported.

Action Item: See ADIA’s 2014 annual review: http://bit.ly/1RlN58b

Photo of Abu Dhabi courtesy of ShutterStock