Barrack’s Colony Hires Former TPG Europe Head for Foreign Deals

Colony Capital, the real estate investment firm led by Tom Barrack, hired former TPG Capital partner Philippe Costeletos as international chairman.

Costeletos, 49, will be responsible for finding investments outside the U.S. and helping Barrack with strategy and operations, according to a statement Friday by Los Angeles-based Colony. He’ll be based in London.

Barrack, 67, founded Colony in 1991 and built it to $19 billion in assets under management as of November. The firm owns or manages investments in mortgages, resorts, housing, the film company Miramax and Neverland, the former estate of pop star Michael Jackson. It has European offices in London, Luxembourg, Madrid, Paris, Rome and Berlin.

Costeletos joined TPG in London in 2003 and later became head of the Fort Worth, Texas-based firm’s European operations. He left in 2012 to join DMC Partners, an emerging markets-focused private equity firm started by former Goldman Sachs Group Inc. executives. The Wall Street Journal reported in September that DMC ended plans to raise a fund.

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