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Steve Ellis Joins TPG as Managing Partner of the Global Operations Group and Portfolio Business BuildingTPG, a leading global alternative asset firm, today announced that Steve Ellis, the former CEO of Asurion (News - Alert) and Worldwide Managing Director of Bain & Company, will join TPG as Managing Partner of the Global Operations Group and Portfolio Business Building. Ellis will be based in the San Francisco office and will begin December 1st. As a member of the senior leadership team, Ellis will drive key growth and value creation initiatives across the TPG portfolio and will oversee the firm's operations group. In partnering with Ellis, our portfolio companies across the platform will benefit from TPG's business-building capabilities. Ellis will also help in the firm's effort to continue to expand and build these operational capabilities across the firm more broadly. In addition, Ellis' experience will help TPG build and manage its global platform with a particular focus of expanding into new industries and geographies. In this capacity Ellis will be working closely with Bill McGlashan to build on the success of TPG Growth both in the US and abroad. Ellis most recently served as the CEO of Asurion, the world's leading provider of mobile device protection services and advanced technical support solutions. Prior to Asurion, Ellis spent nearly 20 years at Bain & Company and held a number of distinguished senior leadership positions, including the title of Worldwide Managing Director (CEO) from 2005 to 2012. Under his leadership, Bain & Company doubled its revenue and expanded its global footprint from 26 to 49 offices. "A fundamental tenet in creating value for our investors is our ability to enable growth and drive transformational change in our portfolio companies," said Jim Coulter, Co-Founder and Co-CEO of TPG. "Steve's impressive track record as an operator will greatly enhance our ability to helpour portfolio company CEOs strengthen and expand their businesses." "In addition to helping TPG build operational capabilities and unlock value within our portfolio companies, Steve will be a great partner as we continue to build businesses and expand our platform into new sectors and geographies," said Jon Winkelried, Co-CEO of TPG. "Jim and I look forward to working with Steve and leveraging his skills as we continue to evolve the firm and pursue future growth." "TPG has been a leader in driving and building value for its portfolio companies and enabling operational excellence across its platform," said Ellis. "I look forward to working with the rest of the senior leadership, as well as our portfolio company CEOs, to take this capability to the next level. We'll be focused on business building at every level, tapping new sources of growth and value for our companies and our fund investors." Prior to becoming Bain's Worldwide Managing Director, Ellis held a number of senior leadership roles, including Managing Partner for Bain's West Coast offices and Chair of Bain's North American Operating Committee. During his tenure, Ellis built Bain's Technology, Media & Telecommunications Practice and played a prominent role in driving the growth of the firm's industry-leading Private Equity Group. Ellis has also played a lead role in creating and managing a number of Bain's direct investment funds including venture, late-stage growth and private equity co-investment. Ellis currently serves on the Board of Directors for Charles Schwab (SCHW), Asurion and The Bridgespan Group, an independent, non-profit affiliate of Bain & Company. In addition to several local non-profit Boards, he serves as an advisor to the Chancellor office of UC Berkeley and has served on the Advisory Committee for the Stanford Graduate School of Business., where he is a regular guest lecturer. He received a B.A. in Economics and History with honors from the University of California at Berkeley, and earned an M.B.A. from the Stanford Graduate School of Business. About TPG TPG is a leading global private investment firm founded in 1992 with approximately $75 billion of assets under management and offices in San Francisco, Fort Worth, Austin, Dallas, Houston, New York, Beijing, Hong Kong, London, Luxembourg, Melbourne, Moscow, Mumbai, São Paulo, Shanghai, Singapore and Tokyo. TPG's investment platforms are across a wide range of asset classes including private equity, growth venture, real estate, credit and public equity. TPG aims to build dynamic products and options for its investors while also instituting discipline and operational excellence across the investment strategy and performance of their portfolio. Since the start of 2014, TPG has raised more than $18.6 billion for its investment funds and has launched six new products including Pace Holdings, TPG Real Estate Finance Trust (TRT) and TSL Europe. For more information visit www.tpg.com. View source version on businesswire.com: http://www.businesswire.com/news/home/20151116006069/en/ |
