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TPG hires senior CPPIB private equity exec – exclusive

Texas mega fund has appointed Mark Corbidge, a former Canadian Pension Plan Investment Board and Doughty Hanson executive to handle European origination activities. 

TPG has appointed Mark Corbidge as a partner in its London office, where he will assist with origination and portfolio company-related activities, a TPG spokesperson said. 

Prior to joining TPG, Corbidge was a senior principal for almost two years at the Canada Pension Plan Investment Board, where focused on direct private equity investments.

Before CPPIB, Corbidge was co-head of private equity at Doughty Hanson for close to three years based in London. He joined the firm in 2004 as a principal.

CPPIB did not respond to requests for comment.

TPG acquired UK discount chain Poundworld Retail for an undisclosed sum in May, investing solely equity. Reports at the time pegged the transaction at £150 million ($227.7 million, €202.9 million).

Last year, the firm teamed up with Blackstone to acquire UK mortgage lender Kensington Group from Investec for $289 million.

TPG is seeking $10 billion for its Partners VII fund after obtaining $6.5 billion in commitments around the beginning of the year. It closed its Growth Fund III at $3 billion in April, surpassing its $2.75 billion target in five months.