TPG hires Goldman exec as new co-chief executive

Jon Winkelried was previously co-chief operating officer at Goldman Sachs, and held other senior titles at the US bank over the years, including heading investment banking, fixed-income, currency and commodities, and leveraged finance.

TPG has named Jon Winkelried as its new co-chief executive, alongside co-founder and current CEO Jim Coulter. David Bonderman, who co-founded TPG with Coulter, will continue as chairman.

Winkelried previously served as president and co-chief operating officer of Goldman Sachs. He worked there for 27 years, holding various senior roles including co-head of the firm’s investment banking division, co-head of fixed income, currency and commodities division, and head of the firm’s leveraged finance business. 

“Jon brings experience, insights and creativity to TPG as we continue our evolution as a firm,” said Coulter. “During the past 23 years, TPG has built a worldwide alternative asset platform, differentiated ourselves as an industry leader in products, industries and geographies, and created new and dynamic opportunities for our investors. As we enter our next era of growth, Jon’s track record of building great investment businesses will be fundamental.” 

Winkelried said: “I have always admired TPG under Jim’s and David’s leadership and, as an advisor to TPG Special Situations Partners, have had the opportunity to grow closer to the firm. Building on the momentum, expanded platform and significant talent, I am excited about the opportunity to be part of TPG’s next era.” 

Winkelried will start his new role in early November and will be based in San Francisco where many of the firm’s special situations executives are also based. The firm has a large and growing debt business within the TPG Special Situations (TSSP) group. The platform has about $12 billion under management and is in the process of setting up a new European direct-lending platform, as well a new co-investment vehicle, TSSP Adjacent Opportunities partners, which allows LPs to invest alongside TPG’s various debt funds and platforms. 

Founded in 1992, TPG has $75 billion in assets under management. It is headquartered in Fort Worth, Texas, and has five additional US offices in San Francisco, Austin, Dallas, Houston and New York. It also has 11 international outposts in Europe, Asia and South America.