PRINT THIS PAGE TPG reported to be joining forces with ex-Goldman star to set up hedge fund18/08/2004. Source: AltAssets. 
 US buy-out giant Texas Pacific Group is reportedly joining forces with an ex-Goldman Sachs luminary to create a new hedge fund business. The Wall Street Journal says TPG is teaming up with Dinakar Singh, former head of Goldman's in-house trading desk, to form TPG-Axon Capital and aims to raise some $3bn over the course of the rest of the year.
A handful of the largest US private equity firms have already extended their product range to move into the debt and hedge fund business. The Blackstone Group and Carlyle, in particular, have established themselves as multi-product managers.
The WSJ said Singh had run Goldman's Principal Strategies Department and had a glowing reputation for spotting investment trends. The chief synergies between a hedge fund and the private equity firm are understood to be TPG's network among chief executives and its due diligence capabilities.
TPG closed its latest buy-out fund, a $5bn vehicle, at the start of the year after less than six months of marketing.
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