Two sovereign wealth funds in the Gulf Arab region have appointed new Heads of Infrastructure.

Abu Dhabi Investment Authority (ADIA) said on Wednesday John McCarthy, previously head of infrastructure at Deutsche Bank's asset and wealth management arm (RREEF), will oversee its existing portfolio and originate new transactions.

McCarthy replaces Chris Koski who left the fund last year and has been appointed as Managing Director for Morgan Stanley's $4 billion infrastructure-fund business, Morgan Stanley Infrastructure Partners.

John McCarthy, left Deutsche Bank after proposing a failed management buyout for RREEF.

According to industry executives, ADIA controls assets valued at between $400 billion and $600 billion.

Qatar Investment Authority (QIA) has also hired Deven Karnik, the most senior managing director of Morgan Stanley's Asia infrastructure fund, to head its new infrastructure business, according to Reuters.