The Abu Dhabi Investment Authority has raised its long-term private equity allocation target to 20% of total assets from a previous range of 15% to 18%, according to its latest annual review published Wednesday.
The shift continues a multi-year rotation by the roughly $1 trillion sovereign fund away from public equities and toward direct co-investment, GP stakes, and continuation vehicles, where ADIA has built one of the largest internal execution teams among global sovereigns.
Execution model
ADIA now completes the majority of its large private equity commitments through direct co-investment alongside GP relationships rather than blind-pool fund commitments alone, a structure that materially lowers its effective fee load.