SAN FRANCISCO--(BUSINESS WIRE)--June 30, 2005--Texas Pacific Group (TPG), a nommé ce jour Vivek Paul, vice-président du Conseil d'administration de Wipro, Ltd. et l'un des dirigeants le plus estimé et le plus respecté au monde, partenaire du fonds de capital risque, spécialisé dans les technologies et les sciences de la vie. Dans le cadre de la recherche constante d'opportunités pour le fonds de capital risque, Mr. Paul collaborera étroitement avec les professionnels de Texas Pacific Group ainsi que sa filiale asiatique, Newbridge Capital, qui gèrent conjointement un portefeuille d'environ 70 milliards de chiffre d'affaires.
( BW)(CA-TEXAS-PACIFIC-GROUP) Texas Pacific Group Names Vivek Paul as Partner; Executive Will Focus on Technology and Life Sciences Investments at Venture Arm of Texas Pacific Group
SAN FRANCISCO--(BUSINESS WIRE)--June 30, 2005--Texas Pacific Group (TPG), today named Vivek Paul, Vice Chairman of Wipro, Ltd. and widely regarded as one of the world's most successful and respected executives, as a Partner in the Venture funds, specializing in technology and life sciences. In pursuing opportunities for the Venture Capital funds, Mr.
Paul will work closely with the professionals of Texas Pacific Group and its Asian affiliate, Newbridge Capital, who together manage a global portfolio of approximately $70 billion in revenue
Paul, 46, was most recently President and CEO of Bangalore-based Wipro Technologies and Vice Chairman of Wipro Ltd. He is widely acknowledged to be a leading force in building Wipro Technologies from a $150 million software business into the premier IT and outsourcing company in India, with 2004 revenues of $1.4 billion. Recently named one of world's 30 Most Respected CEOs by Barron's Magazine, Paul was also selected as one of the TIME/CNN 25 Global Business Influentials for 2004 and rated by Business Week as one of the Best Managers globally for 2003
"This is an extraordinary opportunity to join forces with a firm that is helping to reshape global business," Mr. Paul said.
"Global private equity firms represent patient, smart capital pools that can be deployed on a worldwide basis. Texas Pacific Group is among the most global of private equity investors and continues to demonstrate its success in the transition that is underway. Few firms have the integrity and name recognition of TPG, and they have structured their funds in a way that allows me to apply my operating experience to multiple situations - with diversity in industry sectors, investment life cycle and geographic location." "We're delighted to welcome Vivek to Texas Pacific Group," said Bill McGlashan, a TPG Partner in the Venture Capital funds.
"Vivek has established himself as one of the finest business executives in the world, with skills that apply to both early and late stage investments, making him a perfect fit for our firm. The prospect of working with Vivek will certainly be attractive to entrepreneurs and should further expand the opportunities available to us." "We have known Vivek for years and admired his spectacular achievements everywhere he has been," said William S. Price, founding Partner of TPG.
"As a part of discussing interesting opportunities in business services, we learned Vivek was interested in pursuing a career in the private equity and venture business. We both immediately recognized the great fit between his expertise and our investment strategy
. With our multiple investment funds, Vivek will be able to leverage his strengths across venture start-ups, leveraged buyouts, growth investment and turnarounds, both in Asia and globally." Before joining Wipro, Paul worked at Bain & Co., Boston, a leading strategy consulting firm and at Pepsico, Inc. in their M&A area before assuming the role of President and CEO of GE's medical equipment joint venture with Wipro. He went on to run GE's Global CT Scanner business
Mr. Paul received his MBA from the University of Massachusetts at Amherst and his Bachelor of Engineering degree from B.I.T.S., Pilani, India in Electrical & Electronics Engineering.
He is a member of the Board of the California Chamber of Commerce (and Vice Chairman of its Technology Committee), a member of the B.I.T.S.
Senate, on the Board of Electronic Arts, and on the advisory board of Stanford University's Radiology Department.
About Texas Pacific Group
Texas Pacific Group (TPG) is a leading global alternative investment firm.
Founded in 1992 by David Bonderman, Jim Coulter and Bill Price, TPG employs more than 100 professionals in several investment fund platforms including US and European large-scale buyouts and venture capital.
TPG's affiliate, Newbridge Capital, is a leader in the buyout industry in the Asia Pacific region.
TPG and Newbridge manage more than $20 billion in capital through offices in Ft.
Worth, San Francisco, London, New York, Hong Kong, Mumbai, Seoul, Tokyo, and Melbourne.
CONTACT: Owen Blicksilver Public Relations, Inc
Lisa Baker, 914-725-5949