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TPG hires former Bain managing director

Steve Ellis will join TPG as managing partner to oversee TPG’s operations group and portfolio businesses. Ellis will support TPG’s expansion into new sectors and geographies, the firm said.

TPG has hired Steve Ellis as the firm’s managing partner in its global operations group and portfolio business building.
Ellis will be based in TPG’s San Francisco office and his role starts on 1 December.

He joins TPG from Asurion, where he served as chief executive from September 2012 to December 2014, according to his LinkedIn. He has been board director of Asurio since June 2008 and of Charles Schwab since October 2012. He also serves on the board of The Bridgespan Group.

Formerly, he was worldwide managing director of Bain & Company for more than seven years.

While at Bain, he built the firm’s TMT practice and played a key role in the growth of Bain’s private equity group and in creating and overseeing several of Bain's direct investment funds, TPG said.

In his new role, Ellis will be responsible for key growth and value creation initiatives in the TPG portfolio and TPG’s operations group, the firm said. He will additionally support TPG’s sector and geographical expansion.

Ellis will also work alongside Bill McGlashan on TPG Growth globally. TPG Growth, which pursues mid-market and growth equity investments in the US and emerging markets, launched a joint initiative in June with Satya Capital targeting $1 billion for investments in Africa, as Private Equity International previously reported.