TPG Asia Executive Departs, Plans New Fund

Mary Ma, an Asia executive at buyout shop TPG Capital, is leaving the firm to launch a new fund, Reuters reported, citing a story in the Financial Times. Ma will be running the fund with Louis Cheung, who is stepping down as president of Shenzhen-based Ping An Group in March, the newspaper wrote. No details about the new fund were released.

(Reuters) – Mary Ma, an Asia executive at TPG Capital LP [TPG.UL] is leaving the private equity firm to start a fund, the Financial Times said on Wednesday, without citing sources.

Ma will be running the fund with Louis Cheung, who is stepping down as president of Shenzhen-based Ping An Group in March, the newspaper said without elaborating further.

Ma, a former chief financial officer at Chinese group Lenovo, the world’s No. 4 PC brand, joined TPG’s Asia team in 2007 as partner and managing director.

TPG was not immediately reachable for comment. (Reporting by Karolina Tagaris; editing by Andre Grenon)