Aquilius Investment Partners has expanded its private equity secondaries capabilities with the hire of former HarbourVest principal Martin Yung and the opening of a new Hong Kong office, according to a report by Secondaries Investor.
Yung joins the Singapore-based firm as Managing Director and Head of PE Secondaries, following more than a decade at HarbourVest in Hong Kong, where he focussed on secondaries investments across Asia-Pacific. He is joined by fellow HarbourVest alum Patrick Qian, who arrives as a Principal after five years at the firm. Both left HarbourVest in January.
While best known for real estate secondaries, Aquilius has already deployed several hundred million dollars into PE secondaries across both LP-led and GP-led processes. Last year, the firm led a single-asset continuation vehicle for Australian land-lease operator Serenitas, securing over $150m in equity commitments.
Yung said Aquilius aims for a 50/50 balance between LP-led and GP-led deals, targeting equity cheques of $25m–$150m and prioritising situations where the firm can actively shape GP-led transactions. He highlighted a significant opportunity in Asia, where the region represents a third of global private markets AUM but attracts less than 5% of secondaries capital.
