Newbridge expands team

The pan-Asia private equity firm has hired an ex-Goldman pro as a managing director and the former head of the Development Bank of Singapore as a senior advisor.

Newbridge Capital, the Asian investment firm owned by Texas Pacific Group and Blum Capital Partners, has hired Timothy Dattels as a managing director and John Olds as a senior advisor.

Dattels, who previously served as an advisor to the firm, was formerly a partner at Goldman Sachs, where he was head of investment banking for all of Asia, ex-Japan.

Olds, a former CEO and vice chairman of the Development Bank of Singapore, will have particular responsibility for Newbridge’s investment inChina's Shenzhen Development Bank.

In June, Newbridge agreed to pay yuan 1.2 billion ($145 million, €188 million) for a controlling interest in Shenzhen Development Bank, marking China’s first-ever sale to a foreigner of a controlling stake in a state-owned bank. Shenzhen Bank, the smallest of China’s five publicly traded banks, is raising money to expand lending.

Newbridge was founded in 1994 by Fort Worth, Texas- and San Francisco-based Texas Pacific and San Francisco-based Blum Capital, formerly Richard C. Blum and Associates.

In September, Newbridge agreed to purchase Australian pubs operator Australian Leisure and Hospitality Group for A$1.1 billion ($790 million).