TPG Asia managing partner expands coverage to Middle East

The firm is keen to establish a dedicated presence in the region and Sarvananthan (pictured) will oversee expansion efforts. He will continue to share leadership responsibilities in Asia with two other managing partners, Australia-based Joel Thickins and India-based Puneet Bhatia.

“TPG was one of the first private equity firms to invest in Asia. Now, with the completed integration of TPG NewQuest and the expected Angelo Gordon acquisition, we will have a formal presence in eight cities across the broader region,” Sarvananthan said in a statement.

“The Middle East will be a key driver of our firm’s future growth, and I look forward to partnering with our teams to capitalize on the opportunities we are seeing in these markets.”

Sarvananthan joined TPG in 2014 as a partner, having previously served as an executive director and head of investments at Malaysian sovereign wealth fund Khazanah Nasional and as a director of equity capital markets at UBS.

TPG is active in Asia across multiple strategies. The firm reached a first close of USD 3.4bn on its eighth flagship Asia private equity fund in November 2022. The initial objective was to raise USD 6bn, but TPG subsequently said it would cut the targets for all flagship funds in market globally.

The firm entered the secondaries space in Asia through the acquisition of local player NewQuest Capital Partners. Earlier this year, it announced the purchase of Angelo Gordon, a credit and real estate manager with offices in the US, Europe, and Asia.

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