TPG Capital, the global private equity investment firm, has hired managing director and head of Jefferies’ European head of fund placement group, Magnus Christensson, for its London office.
Christensson is leaving Jefferies in December in order to join the European fundraising team at TPG, which used to be known as Texas Pacific Group.
The highly regarded figure in European placement agent circles has worked on private equity, real estate and infrastructure funds during his career. At the time of his hire at Jefferies in February 2010, global head of fund placement group, Stephen Gray – who has since left the bank – said Christensson’s strong relationships and expertise in private equity, infrastructure and real estate would add “immediate value” to clients globally.
He joined Jefferies from Atlantic-Pacific where he was a partner and spent eight years raising capital, including Forum European Realty Income III, for which the firm garnered €443 million ($572 million) of commitments in 2009.
The move by Christensson to join TPG appears to put an end to plans he had with fellow Jefferies managing director Mark Hallock to form an indepdent placement shop called Helix. The status of the spin-out is unclear.
TPG declined to comment on the hire.
TPG’s latest fundraising effort is for a $1.5 billion distressed, credit and special situation fund that will be run by former Goldman Sachs executive Alan Waxman. The vehicle will be the firm’s first dedicated pool of money specifically for the strategy. In the past, TPG has invested in special situations and credit opportunities through its main private equity funds.