(Reuters) – Private equity firm TPG said on Monday its co-Chief Executive Officer Jon Winkelried will become the sole CEO of the firm.
Jim Coulter, one of the founders of the firm who co-led TPG along with Winkelried, would take on the role of executive chairman, the company said.
Winkelried joined TPG in 2015, prior to which he worked at Goldman Sachs (NYSE:) Inc for 27 years. He retired from the bank in 2009 as president and co-chief operating officer.
While Winkelried would oversee the day-to-day operations of TPG, Coulter would focus more on investing activities, the company said. A key area of focus for Coulter would the TPG Rise Climate, a climate fund led by Henry Paulson, a former U.S. Treasury Secretary under President George W. Bush.
David Bonderman, another co-founder of TPG, would continue in his position as chairman, the company said.
TPG was founded in 1992 and has more than $91 billion in assets under management.
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