Former TPG Official to Lead Pacific Alliance efforts, private, executive, him, 2010

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JUNE 20, 2010, 11:27 P.M. ET
Former TPG Official to Lead Pacific Alliance

By ELLEN SHENG
HONG KONG—Pacific Alliance Group said Monday that Weijian Shan, a former dealmaker at U.S. private equity firm TPG, will become the firm's new chairman and chief executive officer and lead efforts to launch a new Asia-focused private equity buyout fund.

Mr. Shan, who starts his new role July 1, will bring "significant capital commitments" with him.

"I originally planned to start my own fund rooted in and committed to Asia, but having subsequently come to know the founders of Pacific Alliance Group and their investment platforms, I decided instead to partner with them to grow a best in class private equity franchise," Mr. Shan said in a prepared statement.

Mr. Shan will also maintain a relationship with TPG, which will have certain rights to participate in co-investment and co-sponsorship opportunities. Mr. Shan will continue to serve as an adviser to a number of TPG portfolio companies.

Pacific Alliance Group, founded in 2002 and based in Hong Kong, manages about US$5 billion in private equity, real estate, hedge fund and distressed investments. The firm also has offices in Shanghai, Beijing and Tokyo.