(Reuters) – European private equity firm HQ Capital said on Wednesday it had hired Michael Hu, a former senior executive of France-based investment company Ardian SAS, and also launched an office in Singapore as it seeks to expand its footprint in Asia.
Germany-based HQ Capital, which provides access to European and U.S. mid-market private equity funds, hired Hu as the managing director and head of its Asia business.
HQ Capital has been investing in the sub-continent since 1997 and established an office in the investment hub of Hong Kong in 2007 while deploying around $2 billion into Asia-based investments as part of its $11.9 billion total commitment.
“With a global platform and a specialized investment focus, we will offer long-term, bespoke investment solutions to private wealth and institutional investors looking for differentiated access to private markets,” Hu said.
Prior to joining HQ Capital, Hu served as the managing director at Ardian in Singapore, where he was a senior member of the secondaries & primaries investment team and led investor relations and private wealth solutions.
HQ Capital has also submitted an application to the Monetary Authority of Singapore, the city-state’s central bank, for a capital markets services licence, which is pending approval.
(Reporting by Rajasik Mukherjee; Editing by Sherry Jacob-Phillips)
