Auda International is continuing to build up a new team in Asia Pacific, hiring Eunseok So as a senior vice president just after Lucian Wu the firm as managing director, according to a statement.
The moves are part of a complete overhaul at Auda in Hong Kong, which saw Asia head Pak-Seng Lai leave for Vision Knight.
Lai was replaced by Jacob Chiu, co-founder of Asian fund of funds Squadron Capital, which was acquired by US fund of funds FLAG Capital in October 2012. His co-founder, David Pierce, also resurfaced in the Auda group – joining HQ Capital, where he will be head of Asia alternatives.
So was formerly a vice-president at Squadron and before that head of the private equity team at Daishin Securities in Seoul.
Wu, who focuses on secondaries and is the second managing director in the firm’s Hong Kong office, joined from global private equity secondaries firm Paul Capital where he was co-head of the firm’s Asia business. Paul recently wound down its Asia-based operations, with co-Asia head Jason Sambanju earlier this year.
Wu said. “I am impressed by Auda’s commitment to grow its private market investment activities in Asia and excited to join the firm’s outstanding secondaries team.”
Auda invests through commingled primary funds of funds, secondary funds of funds and direct and co-investment funds, as well as on behalf of separately managed accounts. The firm is a the beneficiary of capital from the Harald Quandt family of Germany as well as other family offices, insurance companies, public and private pension funds and sovereign wealth funds.