AlpInvest adds to Hong Kong team – exclusive

The Carlyle Group's fund of funds unit has expanded with the hire of an ex-Bain Capital vice-president on its secondaries team.

AlpInvest Partners, the fund of funds unit of the Carlyle Group, has hired a vice-president on its secondaries investment team in Hong Kong.

Aquila Chu joined the firm from Bain Capital Private Equity and is responsible for sourcing, executing and monitoring equity transactions in Asia, according to AlpInvest’s website. A spokeswoman for the firm confirmed Chu joined on 1 February.

Chu was a vice-president at Bain for almost six years where he focused on the China and Australia markets. Prior to joining Bain, Chu spent four years at The Monitor Group, now Monitor Deloitte, where he focused on Asia-Pacific client engagements, according to AlpInvest’s website.

Three of the 13 professionals in AlpInvest’s Hong Kong office focus on secondaries, according to its website.

Firms with secondaries operations have bolstered their Asian presence recently, with HarbourVest Partners and Hamilton Lane both opening offices in Seoul within the last three months.

AlpInvest, which manages over $45 billion in assets, is currently raising AlpInvest Secondaries Fund VI with a target of $2 billion, according to PEI’s Research and Analytics division.