TPG Capital senior partner Tim Dattels, a former Goldman Sachs banker, is moving back to Asia to be co-head of the global private equity firm's regional operations, as current Asia head Stephen Peel steps away from day-to-day management.
TPG is also promoting Ben Gray, a former Credit Suisse banker as the other co-head for the region along with Dattels.
The senior management reshuffle comes as TPG's latest pan-Asia fundraising, its sixth for the region, has struggled to gain momentum, even as rival KKR & Co has closed a record $6 billion for a similar fund in July.
Dattels, a director of BlackBerry Ltd, is relocating to Hong Kong from San Francisco. He was involved in many of TPG's Asian investments, including hospitals operator Parkway Holdings and Indonesia's Bank Tabungan Pensiunan Nasional.
"In the last few years I've been building up our Singapore office and the Indonesian practice. Now I'm extending that into North Asia," Dattels told Reuters.
TPG shuffles top Asia management, Dattels becomes co-head
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