Wednesday, Dec 07, 2011
DUBAI (Zawya Dow Jones)--The Abu Dhabi Investment Authority, one of the world's largest sovereign wealth funds, on Wednesday said it named Benjamin C. Weston as the group's global head of alternative investments.
Weston, who also worked at Credit Suisse and Merrill Lynch, will be responsible "for developing strategy in the alternatives space and overseeing the department's investment program" and report to Khalifa Almheiri, executive director of the alternative investments department, according to an emailed statement from the fund.
Most recently, Weston was managing investments for institutional investors as CEO of Helvetica Wealth Management Partners, a company controlled by Credit Suisse and the State of Qatar.
ADIA's alternative investment department seeks to invest in non-traditional assets and aims to reduce volatility and correlation of the group's overall portfolio to fixed income and equity markets, according to the fund's review report. The department's main divisions are managed futures, hedge funds and commodities.
-By Nicolas Parasie, Dow Jones Newswires; +9714 446-1681; nicolas.parasie@dowjones.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
07-12-11 0946GMT
