Former TPG Capital Europe head joins Colony Capital

Colony Capital has recruited Philippe Costeletos, a former TPG Capital senior executive, as a principal and international chairman.

In his new role, Costeletos, who will be based in the firm’s London office, will identify new investment opportunities outside the U.S. He will be reporting to Colony Chairman Thomas Barrack Jr.

Previously, Costeletos was a partner at TPG Capital, where he headed the firm’s European operations. In 2012, Costeletos joined DMC Capital, formed by a group of ex-bankers to raise money and invest in emerging markets. According to a Dow Jones report, DMC abandoned plans to raise a $2 billion Africa fund last fall.

Before joining TPG, Costeletos worked at JPMorgan Capital and Morgan Stanley. He was also a member of Investcorp‘s management committee.

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