Adia’s private equity CIO to leave

Dubai: James Kester, the chief investment officer of the Abu Dhabi Investment Authority’s private equity department, has resigned and is set to leave the sovereign wealth fund in the coming weeks.

Adia, one of the largest funds of its kind in the world, confirmed his departure on Wednesday. The fund, which invests Abu Dhabi’s surplus energy revenues abroad, plans to appoint a successor in due course.

Kester joined Adia in 2010 and was tasked with developing its private equity strategy and overseeing activities in the private equity department, according to an Adia announcement at the time. He formerly was head of private equity at Zurich Alternative Asset Management in the US and was co-chief executive of Allianz Private Equity Partners in Germany before that.