TA Associates opens in Hong Kong

Edward Sippel, who led Quadrangle's Asia office prior to its closure, will head the Hong Kong office.

Boston-headquartered private equity firm TA Associates has established an office in Hong Kong to expand its operations in the Asia Pacific region.

According to a statement, the firm has hired Edward Sippel as managing principal to head the Hong Kong office and Jason Tan as director of China.

Prior to joining TA Associates, Sippel worked as a managing principal at Quadrangle Group where he headed the firm’s operations in Asia including the opening of its Hong Kong office in 2008. Previously, he was partner and managing director at TVG Capital Partners where he focused on private equity investments in the TMT sector in Asia.

Tan previously worked as a director at Summit Partners where he spearheaded the firm’s Asia Pacific operations and was responsible for the transactions in the region.

Founded in 1968, TA Associates opened its first Asian office in Mumbai in 2009. In January this year, the firm promoted Naveen Wadhera to principal and head of the firm’s India operations. Wadhera led the firm’s investments in Dr Lal PathLabs, one of the country’s largest diagnostic chains of pathology laboratories, and Micromax Informatics, a mobile handset provider.

The promotion follows the recruitment of Dhiraj Poddar as a director in the Mumbai office in September last year. Poddar joined the firm from Standard Chartered, where he was responsible for origination and evaluation of investment opportunities, managing portfolio companies and handling exits.

TA Associates focuses on buyouts and minority recapitalisations in the technology, financial services, business services, healthcare and consumer industries, and manages more than $16 billion in capital. Earlier this month, the firm invested $40 million for a 15 percent stake in Indian mining equipment manufacturer Tega Industries.