TA Associates, a leading growth private equity firm, is stepping up its Asia presence. The private equity major today said that it would open an office in Hong Kong. Edward F. Sippel has joined the firm as managing principal, Asia Pacific, to open and lead the firm’s Hong Kong office. Also joining TA is Jason Tan, who will serve as director of China and report to Sippel.
Sippel has nearly 15 years of experience in deal sourcing, due diligence, structuring, portfolio management and exits across numerous Asian markets. Prior to joining TA, he was with Quadrangle Group, where as a managing principal, he had headed the firm’s operations in Asia, including opening its Hong Kong office in 2008. He currently serves on the board of directors of Tower Vision, a wireless tower company in India, which is a Quadrangle investment led by Sippel. Prior to Quadrangle, Sippel was a partner and managing director at TVG Capital Partners Ltd, where he focused on private equity investments in technology, media and telecom (TMT) sectors across Asia.
During his tenure, Sippel led several Asia-based private equity deals and served on the boards of numerous private and public companies in Asia.
Tan was previously with Summit Partners and worked as the director of the Asia-Pacific Group. He created the firm’s Asia-Pacific practice and was responsible for all aspects of transactions in the region. Prior to Summit, Tan served as an associate at Crimson Investment and as an associate consultant at Bain & Co. Tan holds a BA degree in Economics, as well as in Chinese Culture & Language, and a Master’s degree in Economics from Northwestern University. He will initially work in TA Associates’ Menlo Park (California) office before relocating to Hong Kong.
TA was founded in Boston in 1968 and later opened an office in Menlo Park. The firm expanded internationally to London in 2002 and came to India with the opening of a Mumbai office in 2009. TA has invested more than $2.5 billion in 22 investments outside of North America since 2002. With $16 billion in capital raised, the company seeks buyouts and minority investments in profitable growth companies, with a particular focus on technology, financial services, healthcare, business services and consumer industries. The firm has more than 70 investment professionals on board.
“We are delighted to establish a presence in Hong Kong and to welcome Ed and Jason to TA as we begin this new and exciting chapter in the firm’s evolution,” said C. Kevin Landry, chairman of TA Associates. “Fifteen years of living and working in the region have afforded Ed a deep understanding of the complexities and cultural nuances of deal-making in Asia, making him ideally suited to lead our team and activities in the region. Jason brings a wealth of experience in investment origination, evaluation and execution that will prove quite valuable as we pursue opportunities in China and elsewhere in Asia. Opening an office in Hong Kong is part of our long-established strategy of being a global growth investor, and we will follow the same investing strategy that has so successfully transferred to Europe and India.”
“I am thrilled to join TA, a firm with a long and proud tradition of helping management teams build their businesses into great companies,” said Sippel. “Asia offers a wealth of opportunities for a growth private equity firm such as TA, with its abundant capital and a focus on multiple industries – all highly relevant to the region. In addition, TA’s investing model is a perfect fit for Asia. For more than 40 years, the firm has invested in high growth businesses, often in a minority ownership position and employing very conservative levels of debt, meaning TA does not need to alter its proven investing style in order to succeed in Asia. We will look to add to the team in Hong Kong while seeking investment opportunities for TA Associates throughout the Asia-Pacific region.”
In an increasing sign of private equity action moving eastwards, the Blackstone Group, one of the world’s leading investment and advisory firms, recently named Michael Chae, a senior managing director in its Private Equity Group, as head of Private Equity in Asia, based in Hong Kong.