The abu dhabiinvestment authority plans to strengthen its business in Asia with more hires. The sovereign fund of oil-rich Abu Dhabi has already appointed Suresh Sadasivan as head of Asia ex-Japan, internal equities department, as part of a move to focus more on Asian equities. "Further hires are planned to help focus on the region's assets," the fund said in its annual review. Sadasivan was previously head of Asia-Pacific equities at L&G Investment Management. Sovereign funds have become an increasingly important part of the ECM landscape, particularly in Asia where IPOs are often underpinned by orders from cornerstone investors. Other sovereign funds such as HKMA, KIC and Khazanah are regulars there, as is Qatar's QIA to an extent. ADIA appears to be ready to play a more active role in Asian equities. The fund has received regulatory approval to double its allocation to Chinese shares to US$1bn under the qualified foreign institutional investor scheme.
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