As private equity secondary firm Paul Capital winds down operations, it continues to shed talent around the financial world.
The firm’s former Asia chief, Lucian Wu, has joined fund of funds Auda International as a managing director based in Auda’s Hong Kong office, Auda announced Friday. Wu will work with Jacob Chiu, appointed earlier this year as an Auda managing director and head of the firm’s Asia business. The new hires are part of an expansion in the region, Auda said in a statement.
Wu joined Paul Capital in 2008, co-heading the Asia business. He is one of several top-level executives who have left Paul Capital in the wake of the firm’s decision earlier this year to wind down operations after failing to raise anywhere close to its $2 billion target for its most recent fund, Paul Capital X.
Partner Brian Sullivan left the firm recently to join Grosvenor Capital Management’s growing private equity team. Other partners at Paul Capital are David de Weese, Dan Mulderry, Phil Jensen, Guy Rico, Elaine Small and Simon Guenzl.
Photo courtesy of Shutterstock.