Texas Pacific Group (TPG), the global private-equity fund, which manages around $20 billion, has named former Intel Capital Managing Director Varun Kapur to lead its investments in India effective this week. | |
| Kapur previously managed Asia-Pacific region investments for Intel Capital, the venture capital arm of Intel. Texas-based TPG has over $20 billion under management, in funds dedicated to venture capital, private equity and public equity investing. |
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| Vivek Paul, who quit Wipro as its vice-chairman in 2005 is one of the partners of TPG and according to information available, Paul was the one who cherry-picked Kapur. |
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| The firm, which has invested in Chinese companies including PC maker Lenovo, is making serious attempts to boost its presence in China and other Asian markets. |
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| The appointment is significant as far as Indian private equity scene is concerned which in the last 11 months has seen PE investments galloping to $4 billion and is expected to double over the next year. |
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| TPG focuses on turnarounds, management-led buyouts and recapitalisations. Recently, it bid for Australian carrier Qantas. The firm's industry focuses include media and telecommunications, industrials, technology and health care. |
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| The firm is currently investing its fourth fund, TPG Partners IV, LP, which closed in March 2003, with $5.3 billion in capital commitments. The firm is raising its fifth fund by seeking as much as $14 billion, according to reports. |
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| The firm's notable transactions include the leveraged buyout of Burger Kind in July 2002 with Bain Capital and Goldman Sachs Capital Partners. |
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