TPG hires for CPP exec to launch dedicated secondaries business

Michael Woolhouse is joining $79 billion alternative asset firm TPG on Aug. 3 from the Canada Pension Plan Investment Board (CPP Investments) as a partner charged with extending TPG’s presence in the secondary market. According to the CPP website, the pension plan invested $280 million with TPG Growth in the secondaries program in 2019. Other partners in the secondaries portfolio are: Berhman Capital, Enfoca, Kainos and Prospect Hill Growth Partners. The newly created role at TPG will center on investment activity in the U.S. and Europe with a primary focus on providing secondary solutions capital to the private markets. He joins TPG’s Toronto office. At CPP, Woolhouse served as head of secondaries, where he led a team that invested nearly C$15 billion ($11 billion) across all major segments of the secondaries market over five years. The secondaries group assets totaled C$7.9 billion as of the end of March. According to a spokesperson at the pension system, a search for his successor is now underway. Prior to joining CPP in 2007, Woolhouse was an investment banker with TD Securities in Toronto. “As the alternative asset class continues to grow and evolve, and fund lives stretch longer, the ability to create liquidity alternatives has become increasingly important,” said Jon Winkelried, Co-CEO of TPG. “Michael’s appointment and the launch of a dedicated secondaries solution mark another important step in our efforts to diversify TPG’s platform and deliver differentiated value to our investors.” Woolhouse’s hire follows the 2018 minority position acquisition of NewQuest Capital Partners, a leading secondaries firm focused on the APAC region. “I am thrilled to formally launch TPG’s secondary business in the U.S. and European markets and to build on the firm’s early success in the space,” said Woolhouse. “TPG’s breadth of capabilities, geographic reach, and deep sector expertise across asset classes are tremendous advantage in the secondaries market.”

TPG hires for CPP exec to launch dedicated secondaries business

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