The Abu Dhabi Investment Authority (ADIA), the emirate’s largest sovereign wealth fund with almost $1tn in assets, has increased its allocation to private equity investments, according to a report by Bloomberg.
The report cites the fund’s annual review, which was released this week, as revealing that the amount dedicated buy ADIA to private equity rose to between 10% and 15% last year, up from 2% to 8% in 2019.
A total of 24 investments of more than $150m were completed by ADIA’s PE division last year, in line with 2021, split equally between direct investments and funds, alongside an increased allocation to secondaries, and also anchored several private credit deals, including one by Centerbridge Partners and Wells Fargo & Co, focused on direct lending to middle market companies.
