Robert Miller’s Search Group sells Squadron Capital

Search Investment Group, the private investment company of the Robert Miller family in Hong Kong, has agreed to sell its subsidiary, Squadron Capital Advisors, to Stamford, Connecticut-based Flag Capital Management. Squadron has been managing Asian private-equity funds since 2006, although some members of the team have been in the business since 1989. It mainly invests in funds of PE funds, although it also has direct investments, and has $1.5 billion of assets under management. N…