The Rise Fund’s CIO appointed as co-managing partner of TPG Growth

Posted on: 12 April, 2020 at 6:37 PM

TPG, a global alternative asset firm, has appointed Michael Stone as the co-managing partner of TPG Growth, the firm’s global middle market and growth equity platform. Stone has been a senior advisor and partner with TPG Growth since 2009. He will work alongside Matthew Hobart, who was named co-managing partner of the platform in June of 2019.

“Mike is an incredibly accomplished investor who has played a fundamental role in shaping the growth equity landscape throughout his career,” said Jim Coulter, co-CEO and co-founder of TPG. “As proven growth investors and veteran members of the TPG team, Mike and Matt will together build on our commitment to excellence in our investing, enhance TPG Growth’s capabilities, and drive value for our companies and investors. I look forward to the team’s continued success under their leadership.”

Coulter, who was serving as interim co-managing partner of the platform, is stepping back from his day-to-day fund duties following Stone’s appointment.

Stone has played a critical role over the years in helping to establish TPG Growth as a global growth equity investor, serving as an active member of the investment committee and leading several important investments including Big River Steel, Wilderness Holdings, and Zipline. He is also a founding member and the current chief investment officer (CIO) of The Rise Fund, TPG’s $5 billion global social impact investing platform. He will continue to serve as CIO of The Rise Fund following his new appointment.

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