US private equity firm TA Associates has expanded its reach in the Asia Pacific region with the establishment of an office in Hong Kong.
Heading the office is Edward Sippel, former managing principle at US firm Quadrangle Group, where he headed the firm’s Asian operations, including the launch of a Hong Kong office in 2008. He also currently serves on the board of Quadrangle portfolio company TowerVision, an Indian wireless tower business.
Prior to Quadrangle, Sippel served with TVG Capital Partners, where he focused on TMT investments in Asia, and at Hong Kong firm AIF Capital, where he worked on its Asia Infrastructure Fund.
Also joining the new office is Jason Tan, formerly Asia Pacific director for Summit Partners, a specialism he created in the firm.
Sippel is the latest Quadrangle exec to depart this year, and the firm said to be seeking to change its name after being caught up in the New York Common Retirement fund ‘pay to play’ scandal, which saw some asset managers funnel kickbacks to executives at the New York State Retirement Fund in exchange for allocations to their funds.
The firm has attributed to controversy to former CEO Steve Rattner, whose behaviour it condemnded as “inappropriate, wrong, and unethical” in November last year. Quadrangle’s investor relations head, LJ McKay, left the firm to join fund of funds investor Pantheon’s East Coast office in February.
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