The world's largest sovereign wealth fund has named an alternative investments veteran to lead its own effort in the space.
The $627 billion Abu Dhabi Investment Authority appointed Benjamin Weston global head of alternative investments. The position is new, and in it Weston will oversee the ADIA's alternative investment strategy and portfolio, which makes up between 5% and 10% of its total assets.
Weston joins ADIA from Geneva, Switzerland-based Helvetica Wealth Management Partners, where he was CEO. Weston is a former CEO of Merrill Lynch Alternative Investments and formerly ran his own hedge fund incubation firm.
"We are very pleased to welcome Ben Weston to ADIA," alternative investments executive director Khalifa Almheiri said. "His extensive and varied experience across the alternative investments industry will help us to further develop our capabilities and breadth of expertise in this important area."