The Abu Dhabi Investment Authority (ADIA), considered the world's largest sovereign wealth fund, named James Kester as chief investment officer in its private equity department, it said in a statement on Wednesday.

Kester, who previously served as head of private equity at Zurich Alternative Asset Management, will develop the strategy and oversee the activities for ADIA's private equity programme, said Hareb Al Darmaki, executive director of the private equities department.

ADIA has investments ranging from Citigroup bonds to a stake in Britain's Gatwick airport. Analysts estimate ADIA's assets to range between $500 billion and $700 billion.

The secretive sovereign fund provided a rare glimpse into its investment portfolio with its first annual review published earlier in the year. The fund had an allocation of up to 85 per cent in developed markets. – Reuters