Don’t Call It A Layoff: TPG (Barely) Thins Roster

A handful of deal professionals have left TPG Capital over the past few weeks, peHUB has learned. We hear the moves were all one-off situations, rather than part of firm-wide layoffs (TPG has over 200 investment pros). In one case, it was just an individual’s desire to relocate. In other words, the dreaded “mutual decision.”

Perhaps the most notable departee is Justin Chang, a Hong Kong-based partner who had been with TPG since 1993. Chang focused on technology deals, and had sat on the boards of such TPG portfolio companies as Lenovo Group, Crystal Decisions and ON Semiconductor.

TPG also has said goodbye to Bastian Lueken, a London-based principal who focused on the European technology and industrial sectors, and Thirucherai Sathyanarayanan, a San Francisco-based vice president who joined the firm two years ago after getting his MBA from Harvard.

Finally, the firm has “transitioned” a pair of San Francisco pros into senior advisor roles. One is former partner Andrew Dechet, while the other is former principal Marshall Haines.

A TPG spokesman declined to comment.