FLAG Capital Management agrees to buy Squadron Capital of Hong Kong
FLAG Capital Management, a fund-of-funds that invests in private equity, venture capital, real estate and other assets, has agreed to acquire a Hong Kong investment firm called Squadron Capital.
The deal will increase FLAG’s size by a third, adding $1.5 billion in assets and bringing its total to $6 billion. FLAG is based in Stamford, Conn., and has an office in Boston. The group invests in private equity and other funds on behalf of wealthy families, endowments and foundations.
Terms of the deal were not disclosed.Chris Reidy can be reached at firstname.lastname@example.org.