HQ Capital, a European private equity (PE) firm focusing on small- to mid-market investments, announced on Wednesday the launch of a new office in Singapore and the hiring of former Ardian executive Michael Hu to lead its expansion across Asia.
HQ Capital is looking to provide its growing investor base in Asia with differentiated alternative investment solutions, including US and European mid-market PE funds, as well as secondary deals and co-investment opportunities.
HQ Capital, which has been investing in Asia since 1997 and established a Hong Kong office in 2007, is targeting investments with other asset managers in funds ranging from $300 million to $2 billion, Hu said in an interview with Bloomberg.
Hu will lead the firm’s investment and business development activities in Asia. He will also join HQ Capital’s global executive committee, according to a company statement.
The new Singapore office will serve the growing base of private wealth and institutional investors in the region, said HQ Capital in the statement. It will act as a gateway for ongoing investment activities in markets such as Australia, Greater China, Japan, Korea, India, and Southeast Asia.
HQ Capital said it has submitted an application for a capital market services licence from the Monetary Authority of Singapore (MAS) which is currently pending approval.
Prior to joining HQ Capital, Michael Hu was a managing director at PE firm Ardian in Singapore, where he was a senior member of the secondary and primary investment team and led investor relations and private wealth solutions. Before Ardian, Michael Hu was a principal at Greenhill & Co in Singapore and Hong Kong.
Established in 1989, Germany-based HQ Capital has deployed $11.7 billion of capital into globally and regionally focused PE investments on behalf of institutional and private clients.
With over 80 employees across New York, Bad Homburg, Hong Kong, and Singapore, the firm has invested in over 850 funds and direct companies alongside 298 fund managers across North America, Europe, and Asia.
Its investments include primary commitments, secondary transactions, and co-investments alongside general partners.