Ardian managing director and Next Gen departs the firm

The firm's recent Asia-Pacific secondaries deals include co-leading a single-asset process for Crescent Capital Partners.

An Ardian senior investment professional based in Asia who was included in Secondaries Investor‘s 2018 Next Gen Leaders of Secondaries cohort has left the firm.

Michael Hu, a managing director based in the firm’s Singapore office, is no longer with the firm, according to two sources familiar with the matter. Hu was no longer an employee of Ardian Investment Singapore after August this year, according to regulatory filings with the Monetary Authority of Singapore.

Hu joined Ardian in 2018, according to an archived version of his profile on Ardian’s website. Prior to that, he was a principal at Greenhill in Hong Kong where he led origination and execution of secondaries market transactions within Asia-Pacific.

At Greenhill, he worked on deals including the sale of $1.7 billion-worth of stakes by Singapore’s GIC, $900 million of stakes by Australian super Commonwealth Superannuation Corporation and a $500 million portfolio by fund of funds Asia Alternatives ManagementSecondaries Investor reported in 2018.

Ardian is in market with its ASF IX flagship private equity secondaries fund and has been reported to have raised at least $20 billion for the vehicle.

In Asia-Pacific, the firm’s recent deals include co-leading a single-asset process on an Australian healthcare recruitment business owned by Sydney-based Crescent Capital Partners, as Secondaries Investor reported last month.

In November, the firm approved Mark Benedetti as executive president of the Ardian general management team and Mathias Burghardt, Vladimir Colas and Jan Philipp Schmitz as executive vice-presidents, according to a statement. This followed the formation of Ardian’s general management team, disclosed in September.

A spokesperson for Ardian declined to comment.

– Alex Lynn contributed to this report.