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MOVES-Abu Dhabi fund ADIA hires senior pvt equity executive

Monday, 1 Oct 2012 | 3:29 AM ET

DUBAI, Oct 1 (Reuters) - Abu Dhabi Investment Authority (ADIA), the cash-rich emirate's sovereign wealth fund, has hired Colm Lanigan to head principal investments at its private equities department, it said on Monday.

Lanigan will be responsible for overseeing the fund's acquisition of equity stakes in private companies, ADIA said in a statement, adding he will report to Hareb Al Darmaki, executive director of the fund's private equities department.

Lanigan was most recently the managing partner of Tara Capital, a New York-based boutique private equity firm that he started in 2005.

ADIA, among the world's largest sovereign wealth funds, is ramping up its private equity investments, sources familiar with the fund's plans told Reuters last year.

Staffing within ADIA's private equity department will likely more than double from its current complement of around two dozen, the sources had said.

The fund hired Christophe Florin to head its emerging markets private equity team in May.

(Reporting by Dinesh Nair; Editing by Amran Abocar)

((dinesh.nair@thomsonreuters.com)(+ 971 4 366 4265)(Reuters Messaging: dinesh.nair.reuters.com@reuters.net))

Keywords: EMIRATES ADIA