In a managed account, an individual investor gives money to a fund manager to invest and manage his fund. : Kotak Realty Fund, part of Kotak Investment Advisors, has exited $356 million worth of investments from its managed account of Abu Dhabi Investment Authority (ADIA) and another sovereign fund from West Asia. In a managed account, an individual investor gives money to a fund manager to invest and manage his fund. In comparison, in a private equity fund, the manager takes care of funds of many investors.