Highland Capital Partners has hired the founder of a portfolio company as a venture partner following internal promotions as the credit and markets investment manager expands into China and Europe.

John St. Amand, the founder and chief executive of Teleca, a telecom equipment company, will work on Highland's communications team, whose investments in the sector account for 25% to 30% of the manager's $3bn (€2.1bn) in committed capital. He will also look at media, technology and communications.