Auda hires ex-Paul Capital Asia head Lucian Wu

Based in Hong Kong, Wu has become part of Auda's secondaries team as the firm continues its regional expansion. Earlier this year, Auda opened an office in Shanghai and brought in Jacob Chiu, formerly of FLAG Squadron Asia, as managing director and head of Asia.

"Lucian Wu is an exceptionally experienced private equity investor," said Ernest Boles, Auda CEO, in a statement. "We are fortunate to have been able to bring him onto our team to help us grow Auda's private equity investment practice in Asia."

Founded in 1989, Auda is part of HQ Capital, which represents the Harald Quandt family's three alternative asset management businesses. 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 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.

In addition to Auda, HQ Capital includes Equita, a PE fund manager that targets on small and mid-cap companies in German-speaking markets, and US-based Real Estate Capital Partners. The three businesses have approximately $12 billion in assets under management.

In June, David Pierce, previously a partner at FLAG Squadron Asia, was appointed managing director and head of Asia at HQ Capital.

Paul Capital's Hong Kong office closed earlier this year as the secondaries specialist began to wind down its global operations. Wu's co-head of Asia at the firm, Jason Sambanju, is now head of regional secondaries at Deutsche Asset & Wealth Management.

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