Press Release

Donald Kaberuka joins TPG/Satya as Senior Advisor

Former head of African Development Bank brings additional expertise on investing in growth companies in Africa

San Francisco and London – December 10, 2015 – TPG/Satya, the partnership between TPG Growth and Satya Capital, today announced the appointment of Donald Kaberuka, former President of the African Development Bank Group, as Senior Advisor. This adds momentum to the TPG/Satya partnership, which was launched in June to combine the global strength and resources of TPG's investment platform with the regional expertise and relationships of Satya and Mo Ibrahim. Since launch, TPG/Satya has been working to identify investments in African companies looking to expand both in Africa and globally. It made its first investment in September in Ecoles Yassamine, a chain of private schools in Morocco.

Bill McGlashan, Managing Partner of TPG Growth, says: “TPG Growth is passionate about partnering with great entrepreneurs and helping them thrive – particularly in emerging economies. We see tremendous opportunity in Africa and are extremely confident in the impact we can make with Mo and Donald.”

Mo Ibrahim, Chairman of Satya Capital, says: “Donald is not only one of Africa’s leading economists, but also one of its greatest champions. He has a deeply held optimism about Africa’s future and the role of private investment in unlocking that opportunity – beliefs that underpin the TPG Growth and Satya partnership.”

As one of Africa’s leading economists and a Senior Advisor to TPG/Satya, Mr. Kaberuka will provide counsel and insight on investment opportunities on the continent. Mr. Kaberuka was formerly President of the African Development Bank Group and a Minister of Finance and Economic Planning in Rwanda. During a decade of leadership at the Bank, Mr. Kaberuka is credited with transforming the institution. Mr. Kaberuka oversaw the tripling of the Bank’s capital, while doubling the size of its investment portfolio. Moreover, the Bank increased its private sector window from US$ 500 million to nearly US$ 3 billion per year.

Donald Kaberuka, says: “Private equity is transforming Africa. TPG/Satya’s sector knowledge, operational resources and global experience puts it in a unique position to help unleash the potential of businesses across the continent. I’m delighted to be joining TPG/Satya as it builds the next generation of African success stories.”

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About Donald Kaberuka

Donald Kaberuka served as President of the African Development Bank Group (AfDB) from 2005 to 2015. From 1997 to 2005, he was the Minister of Finance and Economic Planning in Rwanda. Mr. Kaberuka served as Governor for Rwanda for the International Monetary Fund and the World Bank from 1997 to 2005. Mr Kaberuka, currently serves on the Boards of the Mo Ibrahim Foundation, the Rockefeller Foundation and, for the past two years, the World Economic Forum. He is currently Hauser Leader-in-Residence at the Center for Public Leadership at Harvard Kennedy School. He is also a member of several international panels on finance and development. Mr Kaberuka studied at the University of Glasgow in Scotland, and has been a Visiting Fellow at the Institute of Development Studies of Sussex University in England.

About TPG Growth

TPG Growth is the middle market and growth equity investment platform of TPG, the global private investment firm. With over $7 billion under management, TPG Growth targets investments in a broad range of industries and geographies. TPG Growth has the deep sector knowledge, operational resources and global experience to drive value creation and help companies reach their full potential. The firm is backed by the resources of TPG, which has approximately $70 billion of assets under management. TPG Growth's current and past investments represent a mix of iconic and innovative companies across tech, retail and entertainment including Uber, Airbnb, e.l.f Cosmetics, Angie's Artisan Treats, Fender, SurveyMonkey, and Red Book Connect. TPG Growth has offices in the United States, China, India, Brazil, Turkey, London and Singapore. For more information visit www.tpggrowth.com.

About Satya Capital Limited

Satya Capital is an independent investment firm focused on providing long-term growth capital to African businesses. The firm partners with entrepreneurs to build world-class companies with regional and pan-regional scope and has the flexibility to back investee companies during all stages of development – from expansion to post-IPO – because its permanent capital base enables it to hold investments without a fixed exit horizon. In particular, Satya will seed investment platforms with a view of creating evergreen holdings in its core sectors. The Satya team works closely with portfolio company management to build a foundation for future growth by developing internal systems, attracting management talent and leveraging its network of deep relationships across Africa. Satya targets investments of between $20m and $150m and invests in a broad range of sectors including: Consumer & Retail, Healthcare, TMT and Financial Services. The Satya team has a rich mix of financial, strategic and investment experience, as well as valuable direct operating experience, most notably through the establishment and growth of Celtel, a pan-African mobile operator. For more information, please visit: www.satyacapital.com