Abu Dhabi Wealth Fund's Head of Internal Equities leaves

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Gregory Eckersley joined in Abu Dhabi Wealth Fund (ADIA) 2013 and he was responsible for developing and overseeing portfolios, risk management and the due-diligence process.

Thursday 08, November 2018

(Bloomberg) --Abu Dhabi Investment Authority’s global head of internal equities Gregory Eckersley has left after almost five years at the sovereign wealth fund, according to an official at the firm.

Eckersley joined ADIA from 1770 Capital Partners, a fund he jointly started in 2011, and previously worked at Alliance Bernstein Holding.

The fund has been boosting its in-house teams in areas such as alternative investments and equities. Last year, ADIA managed about 55 per cent of its assets through external managers, down from 60 per cent in 2016 and 75 per cent in 2013, according to its annual report.

It also set up a new strategy and planning department, and its internal equities department hired people in Europe and Japan. The internal equities department invests directly in global equity markets and actively manages these investments, according to ADIA.

The fund doesn’t divulge its assets under management but it’s estimated to have about $683 billion, making ADIA the third-largest in the world, according to data from the Sovereign Wealth Fund Institute.

Last year, ADIA allocated 32 per cent to 42 per cent of its portfolio to developed equities and 10 per cent to 20 per cent to equities in emerging markets, according to the annual report.


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