Who is James Kester, ADIA's new CIO for private equity?

The Abu Dhabi Investment Authority has ended its long search for a successor to Georges Sudarskis, its chief investment officer for private equity who left the SWF to start his own firm, Sudarskis & Partners, in September 2008 after ten years in the role.

James Kester steps into to big shoes within one of the world's largest SWFs, which has a target allocation of between 2-8% of its portfolio for private equity. Based on capital estimations of $600bn, this represents a hefty $12-48bn for the asset class.

It's also another senior hire at ADIA, which has named Ted Chu as chief economist and Keith Collins as chief accounting officer over the last two months.

So, what do we know about ADIA's new recruit, and what can his career trajectory tell others with aspirations to break into a senior private equity position in the Gulf?

1. The benefits of an Ivy League education

It's something of a cliché to say that you need exemplary academics to make it into private equity, but in Kester's case this rings true. He has a BS from Cornell University and an MBA from the Wharton School at the University of Pennsylvania.

2. (A lot of) experience counts in the Gulf

As you would expect for such a senior position, a breadth of experience is required and Hester comes with 22 years in the private equity industry under his belt. His joins ADIA from Zurich Alternative Asset Management (ZAAM) in the US, where he was head of private equity since 2006, and has previously held positions at Allianz Private Equity Partners (APEP) and KPMG. He's also served as a private equity consultant to various European institutions.

3. But Western experience counts more

Based in Abu Dhabi, this will be Kester's first role in the Middle East. Most of his experience has been on Wall Street, having headed up ZAAM's US operations and run APEP's New York division.

4. Have some high-profile names on your CV

To date, some of ADIA's private equity investments have been targeted towards big international firms. It co-invested in TPG's $44.4bn purchase of TXU Corporation in 2007, and KKR's $19.4bn buyout of Alliance Boots in the same year. Clearly, exposure to deals outside of the Gulf region is a prerequisite.

Kester has some big name brands on his CV, having being involved in deals with General Motors and General Electric.