TPG Upgrades Asia Managing Partner Sarvananthan to Lead Middle East Expansion

US private equity giant TPG announced this week that it has appointed Ganen Sarvananthan, one of the managing partners for its Asia business, to lead its expansion in the Middle East.

The company said the appointment comes after significant growth across its investment strategies in Asia and as it establishes a dedicated presence in the Middle East. In his role as head of Asia and the Middle East, Sarvananthan will continue to support TPG’s existing businesses and expansion across Asia while also focusing on the firm’s strategic partnerships and growth in the Middle East.

Sarvananthan will continue as co-managing partner of TPG Capital Asia, the firm’s Asia-dedicated late-stage private equity business, in partnership with co-managing partners Joel Thickins, who covers Australia, and Puneet Bhatia, who is responsible for India.

“We see Asia and the Middle East as priorities and significant growth areas for the firm,” said Jon Winkelried, CEO of TPG. “Ganen brings decades of experience growing businesses and a distinct global perspective to this role.”

Onward After Angelo Gordon

TPG’s expansion in the Middle East is being unveiled just months after the Texas-based firm agreed to buy property and debt specialist Angelo Gordon in a cash and equity transaction valued at $2.7 billion.

That May deal is set to add Angelo Gordon’s 650 staffers across 12 offices in the US, Europe and Asia to TPG’s roster. In 2021 the Forth Worth firm acquired a majority stake in Asia-focused secondaries specialist NewQuest, with the company now looking to expand further.

“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,” said Sarvananthan. “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 and has since held several leadership roles within the firm’s Asia business, most recently as co-managing partner of TPG Capital Asia and co-head of Southeast Asia. Sarvananthan has been a member of TPG’s board of directors since its inception.