TPG launches secondaries business with former CPPIB executive

In 2018, TPG acquired a minority position in NewQuest Capital Partners, which focuses on secondaries in Asia-Pacific. 

TPG hired Michael Woolhouse, former head of secondaries at CPPIB, to lead the firm’s fledgling secondaries platform that will pursue deals in the US and Europe. Woolhouse will join the firm effective Aug. 3 as a partner. In 2018, TPG acquired a minority position in NewQuest Capital Partners, which focuses on secondaries in Asia-Pacific.

Press Release

TPG, a global alternative asset firm, announced today that Michael Woolhouse has joined the firm as a Partner to extend TPG’s presence in the secondary market. In this newly created role, Woolhouse will lead TPG’s strategy and investment activity in the U.S. and Europe with a primary focus on providing secondary solutions capital to the private markets. He will join the firm effective August 3 and will be based in Toronto.

Woolhouse joins TPG from Canada Pension Plan Investment Board (CPP Investments), an investment management organization. Most recently, Woolhouse served as Head of Secondaries, where he led a team that invested nearly C$15 billion across all major segments of the secondaries market. Previously, Woolhouse served as CPP Investments’ Head of Secondaries and Co-Investments and before that, as a Senior Principal in its Funds group. Prior to joining CPP Investments in 2007, Woolhouse was an investment banker with TD Securities in Toronto. He holds an MBA from Ivey Business School and a Bachelor of Commerce from the University of Calgary.

“Throughout our history, we have focused on building a robust investment platform with strategies and capabilities that allow us to strategically address compelling market opportunities and create innovative solutions,” said Jon Winkelried, Co-CEO of TPG. “As the alternative asset class continues to grow and evolve, and fund lives stretch longer, the ability to create liquidity alternatives has become increasingly important. Michael’s appointment and the launch of a dedicated secondaries solution mark another important step in our efforts to diversify TPG’s platform and deliver differentiated value to our investors. His leadership and creativity make him an excellent fit for our platform, and we are pleased to welcome him aboard.”

“TPG has developed a strong foundation in secondaries through its own GP-led deals and partnership with NewQuest in Asia. I am thrilled to formally launch TPG’s secondary business in the U.S. and European markets and to build on the firm’s early success in the space,” said Woolhouse. “TPG’s breadth of capabilities, geographic reach, and deep sector expertise across asset classes are a tremendous advantage in the secondaries market. Beyond these factors, I have long respected the firm’s entrepreneurial culture and share its vision for continuous growth. It’s great to join the team at this exciting moment in TPG’s history.”

In 2018, TPG took a minority position in NewQuest Capital Partners, a leading secondaries firm focused on the APAC region. TPG has a long history of innovation, with a platform that spans private equity, growth equity, impact investing, real estate, and public equity.

About TPG

TPG is a leading global alternative asset firm founded in 1992 with more than $79 billion of assets under management and offices in Austin, Beijing, Fort Worth, Hong Kong, Houston, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, Seoul, Singapore, and Washington, DC. TPG’s investment platforms are across a wide range of asset classes, including private equity, growth equity, real estate, and public equity. TPG aims to build dynamic products and options for its investors while also instituting discipline and operational excellence across the investment strategy and performance of its portfolio. For more information, visit www.tpg.com.