Singapore-incorporated investment management firm Yangzijiang Financial Holding Ltd has appointed ex-GIC executive Wu Menglin as the head of the group’s fund of funds business while TPG Capital Asia chairman Tim Dattels has retired after an 18-year stint.
Ex-GIC vice president joins Yangzijiang Financial
Singapore-incorporated Yangzijiang Financial Holding Ltd has appointed former GIC vice president Wu Menglin as the head of the group’s fund of funds business with effect from October 10, 2022, according to an announcement.
During her 10-year stint at GIC, Wu managed fund investments in Asia and co-investments in healthcare, advanced manufacturing, consumer, TMT, fintech and business services.
Yangzijiang Financial is primarily into investment and wealth management in Asia with Singapore and China being its core markets.
TPG Capital Asia chairman retires
Tim Dattels, the chairman of TPG’s Asia business, has retired after an 18-year stint in various leadership roles at the firm, a spokesperson confirmed to DealStreetAsia.
Dattels, who was based in Hong Kong, retired as a full-time partner on Sep 30 from TPG. He will continue to support the firm as a senior advisor.
The development was first reported by Private Equity International.
Dattels joined TPG Capital Asia in 2004 from Goldman Sachs. At TPG, he has served on the TPG Holdings Committee and the Boards of Directors of Cushman & Wakefield, BlackBerry, Invest in Canada, Parkway Holdings, Primedia Inc., Shangri-La Asia Ltd., Sing Tao News Corporation Ltd., and SFJazz.
In September, Reuters reported that TPG is set to reach the first close of its new Asia-focused fund at more than $3 billion.