ADIA Names Ex-GE Exec as Private Equity Chief

Sherwood_Dodge Sherwood DodgeThe Abu Dhabi Investment Authority (ADIA) has tapped a new global head of private equities.

Sherwood Dodge, a former GE executive, will join the estimated $770 billion sovereign fund immediately, ADIA said.

In his new position, Dodge will oversee the private equity program—including mandates in private equity funds, primary and secondary investments, and private credit—and make investment recommendations to the investment committee.

The new chief will report to Hamad Shahwan Al Dhaheri, ADIA’s executive director for private equity.

“With a distinguished career in private equity investing around the world, Sherwood is a valuable addition to an already strong team,” Al Dhaheri said in a statement. “His deep and wide-ranging experience will play a leading role in further developing ADIA’s activities in the private equity space.”

Dodge spent more than 25 years with GE, in a number of senior positions. Most recently, he was deputy CEO of Hyundai Capital Services and Hyundai Card, a joint venture between Hyundai Motors and GE.

At GE, Dodge was CEO of the equity business, and was also responsible for investments in aviation and energy as well as co-investments with the firm’s leveraged lending unit.

ADIA has been staffing up as part of an effort to bring more assets in-house. Last June, the fund announced it had insourced around $70 billion in 2014 and hired more than 150 staff.

“ADIA made solid progress in 2014 on multiple fronts, from improving our flexibility to target investment opportunities, to a continued strong focus on the development of our human capital—a key driver in fulfilling our mission,” said Hamad bin Zayed Al Nahyan, managing director of the fund.

Key appointments since September 2014 include ex-Russell equities chief Brian Tipple to run external equity investments, former Eagle Asset Management manager John Pandtle to head up US equities, and BlackRock alum Hisashi Kuroda to lead the Japanese equities desk.