Global buyout firm TPG Capital is reported to have hired former Credit Suisse director and co-head of corporate finance for Southeast Asia Francis Woo as a principal for its Southeast Asia team.
Reuters reported the news, citing two sources familiar with the matter.
Woo will focus primarily on deal sourcing and execution, and will report to Ben Gray, TPG’s head of Australia, Japan, Korea and Southeast Asia, the report said.
TPG Capital recently reshuffled its Asia senior management team ahead of closing its $5bn latest fund – its sixth investment vehicle raised to target the region.
Managing partner Stephen Peel, who has led the firm’s regional operations in Asia since arriving in 2008, has narrowed his focus to China and India.
Gray, who previously managed just the firm’s Australia operations, has moved to Singapore to focus on Southeast Asia, and will also take a more targeted approach to the large buyout markets of Australia and Japan.
Gray will now focus on Australia and Southeast Asia, as well as Japan and South Korea, where the firm has partnered with local investment firm Vogo.
TPG has invested around $1bn a year in Asia over the last two years, up from around $650m during the downturn in 2009.
The firm has secured about $1bn for its latest Asia-focused investment vehicle, after hitting the fundraising trail at the beginning of the year.
If successful, the vehicle will rank as the largest raised in the region since the economic downturn.
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