Squadron Capital, the Hong Kong-based fund of funds manager, has hired Shi Xiaoni as an associate on its investment team.
Shi joins Squadron Capital from global Investment bank UBS in Hong Kong, where she has been working since 2006. Prior to that, she worked for Merrill Lynch, based in Hong Kong as well. A native speaker of Mandarin Chinese, Shi is fluent in English and Japanese.
“Her investment banking experience, which has been focused on Chinese companies, will be a great asset to our growing team of private equity professionals,” David Pierce
, chief executive officer of Squadron Capital, said in a statement.
Squadron Capital now has 12 investment professionals.
The firm is currently in raising capital for its second fund of funds, a $400 million vehicle focused on commitments to Asian private equity funds. In November last year, the $71 billion Teacher Retirement System of Texas committed $100 million Squadron Capital’s second fund of funds, sources told PEI Asia.
Squadron is an affiliate of Search Private Equity Holdings, a member of Search Investment Group, which was established in the mid-1970s. The firm and other affiliates of Search Investment Group have made commitments to more than 100 private equity funds since inception.