In a recent announcement from the firm. TPG Capital has appointed Tim Dattels as its new co-head for Asian operations . He replaces Stephen Peel, who would be stepping down to focus on emerging markets outside the region. 

In a phone interview held today, Peel himself confirmed he would remain in Hong Kong to focus on TPG's business interests in Russia and Eastern Europe. He was instrumental in setting up TPG in these emerging markets. He would also remain at the firm's Asian investment committee.

Dattels, on the other hand was unreachable by his mobile phone. It was confirmed by a TPG spokesperson that he would be moving to Hong Kong by February from his residence in the United States. The spokesperson asked not to be identified as he was not authorized to discuss such personnel matters. Dattels was a former executive at Newbridge Capital LLC, which was the former Asian unit of TPG alongside Ben Gray, who is also the other TPG co-head for the region.

These personnel changes at the headquarters of the firm in Fort Worth, Texas were first reported by Reuters earlier today. TPG is in the process of raising its sixth fund in the Asian region after it had invested USD3.8 billion fund back in 2008. A number of global firms had amassed new funds in Asia as the latest rounds increased between 2005 and 2008 near the end of their investment cycles.

Peel did say he did not want to stay on for Fund VI and had sought to be relieved from management duties. He joined TPG in London back in 1997 from the private equity business of Goldman Sachs Group Inc. TPG at that time started its European business in the same year. As such, he was relocated to Moscow in 2006 to open an office and thus entrench TPG presence in the area. He was also responsible for the emerging markets in Eastern Europe and India before being relocated to Hong Kong in 2008 in the role of Asia co-head together with Dan Carroll. Carroll then moved to the US offices one year later.