FLAG hires Myron Zhu as co-head of Asia

Zhu will lead the 15-strong team alongside Wen Tan. He will take particular responsibility for FLAG's activities in China, supported by Senior Advisor Alice Chow, in addition to serving on the fund-of-funds player's Asia investment and management committees.

The appointment of Zhu allows Peter Denious, the partner who oversaw FLAG's absorption of Squadron Capital last year, to refocus on the firm's venture capital strategy. It was announced earlier this year that Diana Frazier, co-founder of FLAG, would transition into an advisory role, with Denious assuming her VC duties.

"Myron excels in each of our three key criteria: deep direct and co-investing expertise, which is an area we have been keen to enhance; extensive China private equity experience as a senior investment professional, further adding to our China capabilities; and a strong cultural fit with the firm in the form of a disciplined investment returns-driven mentality," Tan, who is also a partner, said in a statement.

Zhu spent five years at J.P. Morgan where he built the firm's fund-of-funds business in Asia. He previously led Greater China investment activities for DBS Private Equity and worked at AIG Capital Partners in New York.

FLAG, which has received more than $6.5 billion in client commitments since inception, acquired Squadron Capital in 2012. This boosted the Asia component of a product offering that encompasses primary fund-of-funds, secondaries and co-investment across private equity, venture capital and real assets.

The unification has not been entirely smooth, according to some sources. David Pierce, formerly head of Squadron Capital and a partner at FLAG Squadron Asia, resigned last year. Jacob Chiu, another partner, resigned around the same time. This followed several more junior departures.

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• Topics
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• Fund-of-funds
• Asia
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• FLAG Capital
• Squadron Capital Advisors
• Fund-of-funds