AAA<\/p>\n
TPG Capital decided to retain Joel Thickins as partner and co-head of Asia following his guilty plea stemming from an alcohol-related crash while driving in Sydney and an internal review into a series of allegations.<\/p>\n
In addition to his court-mandated penalties, TPG has imposed \u201cappropriate disciplinary action\u201d against Thickins, according to a statement from the company, which gave no further details. An independent investigation by law firm Debevoise & Plimpton found no systemic pattern of misbehavior by him, according to the statement.<\/p>\n
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In addition to his court-mandated penalties, TPG has imposed \u201cappropriate disciplinary action\u201d against Joel Thickins.Bloomberg<\/p>\n
The investigation also concluded that other allegations related to TPG portfolio company Novotech Pty were \u201cunsubstantiated and meritless\u201d after reviewing tens of thousands of documents and interviewing relevant parties, the company said.<\/p>\n
The findings, together with Thickins\u2019 acceptance of responsibility, cooperation with investigators and previously clean disciplinary record, led it to conclude that he\u2019ll remain in the role, TPG said.<\/p>\n
\u201cWith the investigation now complete and the legal proceedings concluded, our focus is now on moving forward and supporting the continued success of our strong Asia franchise,\u201d the alternative-asset firm said in the statement.<\/p>\n
The probe was led by Andrew Ceresney, co-chair of Debevoise\u2019s litigation department and former director of enforcement at the US Securities and Exchange Commission.<\/p>\n
The decision marks a vote of confidence in one of TPG\u2019s most senior Asia executives, who has spent a decade at the firm and helped build its Australian franchise into one of the country\u2019s most active private equity investors. Australia, along with Southeast Asia and India, has been a key market for TPG as it has progressively reduced its China exposure.<\/p>\n
Negligent driving<\/p>\n
Thickins this week pleaded guilty in a Sydney court<\/a> to negligent driving while under the influence of alcohol and refusing a breath test following a five-car collision in the city\u2019s eastern suburbs on June 1. He was fined, disqualified from driving for nine months and publicly apologised, saying he accepted full responsibility for his actions and was grateful nobody was injured.<\/p>\n
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