Squadron hires head of IR, promotes two

Hong Kong-based fund of funds manager Squadron Capital has appointed Chau Ly as director of investor relations and business development.

In the newly created position, Ly is to serve Squadron’s “large and growing base of investors”, according to a statement.

Previously, Ly worked as an investment associate at US fund of funds Siguler Guff in New York. She received an MBA from The University of Chicago.

At the same time, Squadron has promoted Pratima Divgi and Anand Ramachandran Prasanna to investment directors. Both joined the firm in 2008.

In September last year, the firm closed its Squadron Asia Pacific Fund II on $400 million. The vehicle, which was launched in 2008 with an original target of $450 million, secured a $100 million commitment from the $71 billion Teacher Retirement System of Texas in November 2009.

Squadron’s first FoF raised $300 million and closed in 2008. The firm, which has 12 investment professionals all based in Hong Kong, is an affiliate of Search Private Equity Holdings, which in turn is a member of Search Investment Group. Squadron and other affiliates of Search Investment Group have between them made commitments to more than 100 private equity funds since the Group’s inception in the mid-1970s.