ADIA strengthens co-investment function

The Abu Dhabi Investment Authority has appointed Colm Lanigan, who until recently had run Tara Capital, to lead its co-investment unit.

Colm Lanigan, who in 2005 founded and led boutique private equity firm Tara Capital until this year, has joined sovereign wealth fund Abu Dhabi Investment Authority (ADIA) as head of principal investments.

ADIA’s private equity unit typically invests in funds as an LP, but also makes co-investments in specific deals. Lanigan’s newly-created role formalises a structure that has been in place for some time, a source said.

Lanigan will be based in Abu Dhabi and will report to Hareb Al Darmaki, executive director of ADIA’s private equity division.

Prior to founding Tara Capital, he was a partner at Caxton-Iseman Capital, the private equity affiliate of hedge fund Caxton Associates, where he helped to expand the firm’s principal investment business. From 1996 to 2001, he worked in leveraged finance at Credit Suisse First Boston.

Al Darmaki said in a statement: “Colm is a highly experienced private equity investor, with a proven track record across the industry, including in the emerging markets space. He will play an important role in managing our portfolio of existing principal investments, while further developing our strategy in this area.”