Auda becomes HQ Capital

The fund of funds manager joins its real estate and buyout affiliates under HQ Capital with more than $12bn in AUM.

Fund of funds manager Auda International is joining HQ Group’s real estate and buyout affiliates in a rebranding that now houses the three investment firms under a single brand, HQ Capital, HQ Group said on Tuesday.

As part of the changes, HQ Group’s mid-cap buyout firm EQUITA is renamed  HQ Equita, while Auda has been renamed HQ Capital Private Equity.

“By combining our resources under a single operating structure, we will create a broader investment program and service platform for our clients, while at the same time generating new growth opportunities for our firm,” Ernest Boles, chief executive of HQ Capital, said in the statement.

HQ Capital’s private equity strategy will include the acquisition of assets on the secondaries market, as well as making primary and co-investments, the statement said.

Last month, Auda acquired three secondaries funds from asset manager Thomas Weisel Partners representing $150 million in committed capital. Christian Munafo, an executive at Thomas Weisel who led its secondaries programme, also joined the firm to continue managing the three funds as well as to develop its secondaries operations.

Auda was founded in 1989 as the US investment arm of the Harald Quandt family foundation, a German industrial investor. HQ Capital, with its three units, has 10 offices across North America, Europe and Asia, according to its website. The new group has over $12 billion under management.