TPG Capital, the global private equity investment firm, has hired managing director and head of Jefferies’ European head of fund placement group, Magnus Christensson, for its London office.
Christensson is leaving Jefferies in December in order to join the European fundraising team at TPG, which used to be known as Texas Pacific Group.
The highly regarded figure in European placement agent circles has worked on private equity, real estate and infrastructure funds during his career. At the time of his hire at Jefferies in February 2010, global head of fund placement group, Stephen Gray – who has since left the bank – said Christensson’s strong relationships and expertise in private equity, infrastructure and real estate would add “immediate value” to clients globally.
He joined Jefferies from Atlantic-Pacific where he was a partner and spent eight years raising capital, including Forum European Realty Income III, for which the firm garnered €443 million ($572 million) of commitments in 2009.
At Jefferies, he had been working for Tristan Capital, the London-based real estate fund manager which this week announced it had raised more than €300 million for European core-plus, value added vehicle, Curzon Capital Partners III. That fund is planning a third close late in November. Prior to Atlantic-Pacific, he was a principal at SevenPeaks Capital, and worked at NM Rothschild’s private equity business.
The move by Christensson to join TPG appears to put an end to rumours that he is planning to form a spin out placement group alongside fellow Jefferies managing director, Mark Hallock. Reports in February this year said the firm was supportive of the duo forming an independent shop.
TPG, which has been building a real estate team of late, declined to comment on the hire. However, he is not thought to be joining with a focus on the asset class, though it is rumoured the firm has been seeking a global head of real estate capital raising.
PERE’s sister site, Private Equity International reported on 21 September that TPG’s latest fundraising effort is for a $1.5 billion distressed, credit and special situation fund that will be run by former Goldman Sachs executive Alan Waxman. The vehicle will be the firm’s first dedicated pool of money specifically for the strategy. In the past, TPG has invested in special situations and credit opportunities through its main private equity funds.