TPG appoints Asia co-head

 Senior partner Tim Dattels will move from San Francisco to Hong Kong in January.   

TPG has revealed it will relocate senior partner Tim Dattels from the firm’s San Francisco headquarters to Hong Kong where he will become co-head of Asia, a spokeswoman for the firm told Private Equity International.

Dattels will move over Chinese New Year, which falls on 31 January in 2014, with his appointment effective following the holiday.

He joins Ben Gray as co-head. Gray is based in Singapore and also serves as managing partner in Korea, Japan, Australia and Southeast Asia.

Although there has been no strict geographical distinction drawn between the two roles, Dattels is likely to focus more on Greater China, as well as continuing his relationships in Korea and Japan.

He will also be heavily involved in the firm’s Indonesia activities, having been instrumental in a number of the firm’s deals in the country.

Dattels developed the relationship with Indonesia’s Bank Tabungan Peninsuan Nasional, the spokeswoman said. In May this year, the firm agreed to exit the bank over two tranches by selling 40 percent to Japanese Sumitomo Mitsui Banking Corporation, PEI reported earlier.

The two deals combined were worth $1.52 billion and were expected to hand the firm a 7x return.

Dattels is a former Goldman Sachs partner and managing director, and served as head of investment banking in Asia ex-Japan for the global bank between 1996 and 2000.

TPG is in the process of raising its latest Asia Pacific fund, which is targeting $3.5 billion, PEI reported earlier. Media reports earlier said the firm was planning a second close in June, but no update on the fundraise has been provided.