Weijian Shan quits TPG

TPG’s leading dealmaker in China will set up his own Asia-focused firm that will reportedly be backed by TPG.

Weijian Shan, a partner at TPG Capital and one of its top dealmakers in China, is leaving the firm after 11 years, a source has confirmed.

He is to pursue his own venture, which TPG would partially fund and partner with on deals, according to the Financial Times.
TPG declined to comment.

“I have really enjoyed my time with TPG and feel that now is the right time to move on,” Shan told the Financial Times. The UK newspaper reported that he will continue as a senior advisor to the global private equity firm and will remain on the boards of a few of its portfolio companies.

Shan has led a number of landmark transactions for TPG in the region, including its acquisition of Shenzhen Development Bank – a landmark transaction in Chinese private equity, for it was the first time a foreign investor had assumed a controlling stake in a Chinese bank. 

Before joining TPG in 1998, Shan worked for five years at JP Morgan where he was a managing director and country head for China, serving as chief representative for the bank’s Beijing and Shanghai offices. Prior to working at JP Morgan, Shan was a professor at Wharton, University of Pennsylvania for six years.