Jin-Yong Cai, the former head of the International Finance Corporation, is joining TPG Capital to help develop the global alternative investment firm’s push into emerging and frontier markets. In what is a new role for the firm, Cai will work across TPG’s platforms to source opportunities and projects across Asia, Africa and Latin America. He starts as a Partner with the firm on February 1st, 2016.
Until recently, Jin-Yong Cai was the Executive Vice President & CEO of the IFC, the largest of the development finance institutions focused on private sector development. A 20-year veteran of the financial services industry, his career has included senior roles at some of the world’s largest financial institutions, including Goldman Sachs where he was a partner and top executive in China, Morgan Stanley and was a key player in developing China International Capital Corporation, China’s first joint venture investment bank.
His appointment is the latest in a set of moves by TPG Capital to boost its efforts in developing markets and Africa in particular within the last few months. In June 2015, the firm announced a tie-up with Mo Ibrahim’s Satya Capital to invest up to $1 billion on the continent, and made other high-profile hires including the appointment of Donald Kaberuka, the former head of the African Development Bank as a Senior Advisor and Yemi Lalude, the founder of Adlevo Capital, as the Managing Partner for Africa.