TPG hires Credit Suisse’s Francis Woo for Southeast Asia – report

According to Reuters, Woo will focus primarily on deal sourcing and execution and report to Ben Gray, managing partner and TPG's head of Australia, Japan, Korea and Southeast Asia.

The private equity firm is currently raising its sixth Asia fund with a target of around $4 billion. Its predecessor vehicle closed in January 2008 at $4.25 billion.

Earlier this year, TPG shuffled its Asia team, with Gray taking on responsibility for Japan and Korea in addition to Southeast Asia and Australia. Previously head of Australia only, he moved to Singapore in late 2011 to take up the Southeast Asia portfolio. Stephen Peel, the other regional managing partner, focuses on China and India.

A key part of TPG's Southeast Asia operations is a tie-up with Indonesian GP Northstar Pacific. The US private equity firm was an LP in Northstar's first two funds and last year they agreed on a cross-investment deal whereby the Indonesian firm took a less than 0.5% interest in TPG and the US firm gained 10-20% of Northstar. The two parties are frequent co-investors.

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