TPG hires Khazanah's head of investments as Asia partner

Mon Jan 20, 2014 8:39am EST

Jan 20 (Reuters) - U.S. private equity firm TPG Capital has hired Ganen Sarvananthan, head of investments at Malaysian state investor Khazanah Nasional Berhad, as a partner and managing director in its Asia business.

Sarvananthan, who has been with Khazanah for nine years, will join TPG on April 30, the Malaysian state fund said in a statement on Monday.

He will head Southeast Asia for TPG, a source familiar with the matter told Reuters.

The move follows a leadership shuffle at TPG Capital late last year when it made senior partner Tim Dattels co-head of Asia, alongside Ben Gray, a former Credit Suisse banker.

Southeast Asia has been a hot spot for private equity firms, where competition for deals and dealmakers is heating up.

Khazanah also said Dominic Silva, executive director of investments, will assume the role of head of investments from Feb. 1. (Reporting by Al-Zaquan Amer Hamzah and Stephen Aldred; editing by Tom Pfeiffer)