Auda names Jacob Chiu head of Asia, opens in Shanghai

Chiu is replacing Pak-Seng Lai, who will leave the company at the end of the month. 

"The Auda Shanghai office will facilitate our expanding investment research efforts in China, Asia's largest private equity market," said Ernest Boles, Auda's CEO, in a statement. "We are fortunate to have been able to recruit Jacob Chiu, one of the most experienced private equity fund investors in the region, who will join our growing team and oversee the opening of Auda's new office in Shanghai."

Chiu, who will report to Steve Wesson, global head of private equity, was a managing director at Search Investment Group and became a founding managing director of Squadron Capital when the Search team started managing external capital in 2006. He was responsible for pan-Asian funds as well as co-investments in China.

Following the merger of Squadron and FLAG Capital, Chiu became a partner at FLAG Squadron Asia.

Founded in 1989 as an investment company of the Harald Quandt family, Auda manages in excess of $5.3 billion of private equity commitments in primaries, secondaries and co-investments. It employs 60 people across offices in Bad Homburg, Germany, New York, London, Hong Kong and now Shanghai.

The firm reached a final close on its third global secondaries fund at $332 million in January, exceeding the initial target of $300 million.

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