Vincenzo Morelli is to resume his career in private equity and join US private equity firm Texas Pacific Group (TPG) as partner in charge of overseeing the operation of its European portfolio companies. Morelli, 50, will take up the position in the firm's London office on March 1st.
Reinforcing operational and portfolio management capabilities has been a priority among large private equity groups for some time. Last year The Blackstone Group recruited James Quella from DLJ Merchant Banking, installing Quella as a senior executive in charge of supervising Blackstone’s portfolio management effort.
Morelli is joining TPG from global turnaround and interim management firm Alvarez & Marsal, where he worked as a managing director in Europe. While in the role, he acted as chief restructuring officer at plumbing and heating material wholesaler Schulte.
Morelli was previously a senior advisor with Clayton, Dubilier & Rice, where he worked on the buyout of Italtel from Telecom Italia. Prior to joining CD&R, he held senior executive positions at General Electric and FIAT Group.
Founded in 1993, TPG has offices in San Francisco, London and Fort Worth, Texas, and manages over $13 billion in assets. It invests in a range of industries including technology, retail, consumer products, airlines and healthcare.
TPG’s current European portfolio companies include UK high street retailer Debenhams, pub operator Spirit Group, German plumbing equipment company Grohe, and Italian motorbike company Ducati Motor Holding.