Jennifer Chu
TPGAbout Jennifer Chu
Jennifer “Jen” Chu, age 45, is TPG’s Chief Legal Officer, General Counsel, Corporate Secretary, and a Partner, effective March 31, 2025. She previously spent ~19 years at Debevoise & Plimpton LLP, where she was Deputy Co‑Chair of the M&A Group and a member of the Private Equity and Healthcare & Life Sciences Groups; she holds a B.A. from Harvard College (magna cum laude), an M.A. from the University of London, and a J.D. from Harvard Law School (former editor‑in‑chief of the Harvard International Law Journal) . During her initial tenure, TPG delivered strong firm‑level performance, with AUM up 20% YoY to $286.4B, FRR up 11% YoY to $509M, FRE at $225M, and After‑tax DE at $214M in 3Q’25; the company declared a $0.45 quarterly dividend for Dec 1, 2025 .
Firm performance during Chu’s initial tenure
| Metric | 3Q 2024 | 3Q 2025 | 3Q 2024 YTD | 3Q 2025 YTD |
|---|---|---|---|---|
| Assets Under Management ($B) | $239.1 | $286.4 | — | — |
| Fee-Related Revenues ($M) | $460 | $509 | $1,370 | $1,481 |
| Fee-Related Earnings ($M) | $191 | $225 | $574 | $626 |
| After-tax Distributable Earnings ($M) | $189 | $214 | $577 | $669 |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Debevoise & Plimpton LLP | Deputy Co‑Chair, M&A Group; Member, Private Equity; Healthcare & Life Sciences | 2006–2025 | Led complex M&A, JV, and PE matters across sectors; recognized by Legal 500 US (2024), The Deal “Top Women in Dealmaking” (2022), IFLR1000 (2022) |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Practicing Attorneys for Law Students | Board of Directors | N/A | Legal education and mentoring nonprofit |
Fixed Compensation
- TPG does not disclose individual 2025 compensation for Chu; she is not included among the 2024 Named Executive Officers (NEOs) in the Summary Compensation Table . TPG’s executive compensation framework comprises base salary, equity awards (RSUs, PRSUs), and performance allocations via platform-level and pool programs; benefits include 401(k) match and umbrella liability coverage .
- Recoupment: TPG maintains Dodd‑Frank compliant and discretionary clawback policies covering directors and officers . Hedging/Pledging: Prohibited without prior approval for employees, executive officers, and directors .
Performance Compensation
- No individual performance metrics or award amounts are disclosed for Chu in the 2025 proxy; the Compensation Committee approves equity awards to officers for Section 16 purposes . Below are firm‑level award frameworks relevant to executive officers:
| Metric | Target | Actual | Payout | Vesting |
|---|---|---|---|---|
| IPO PRSU Market Hurdle 1 | 30‑day VWAP ≥ 1.5x IPO price within 5 years | Achieved Mar 22, 2024 | Eligible PRSUs earned upon service vesting | 25% each on 2nd–5th anniversaries; forfeiture if performance not met within window |
| IPO PRSU Market Hurdle 2 | 30‑day VWAP ≥ 2.0x IPO price within 8 years | Achieved Oct 22, 2024 | Eligible PRSUs earned upon service vesting | Same service schedule; forfeiture if not met within window |
| Ordinary RSU service awards | Annual RSUs | Granted annually for prior-year performance | N/A | Vest in 3 equal annual installments beginning 1st anniversary of grant |
| Market Condition CEO award (reference) | 30‑day VWAP hurdles at $52.50, $58.45, $64.05, $70.00 | First three hurdles met in 2024 | Tranches earned upon both service and market conditions | 20% each in 2025–2029; settlement in 2029/2030 |
Equity Ownership & Alignment
- Beneficial ownership: The proxy’s ownership table lists directors and named executive officers; Chu is not listed, and no quantitative ownership for her is disclosed as of the filing .
- Hedging/Pledging: Prohibited without prior approval for employees and officers; transactions remain subject to transfer restrictions and governance agreements .
- Clawbacks: Directors and officers are subject to recoupment for restatements or detrimental conduct, including failure to supervise .
- Equity programs context: TPG grants RSUs and PRSUs under its Omnibus Plan and maintains additional legacy interests (TPH/RPH/Common Units) with vesting and distribution features; RSU expense and unrecognized amounts are detailed in 3Q’25 filings .
Employment Terms
| Term | Detail |
|---|---|
| Start date | Effective March 31, 2025 |
| Position | Chief Legal Officer, General Counsel, Corporate Secretary, Partner |
| Contract | Specific offer/employment agreement terms for Chu not disclosed; company notes standard U.S. offer letters for NEOs with salary, benefits eligibility, confidentiality covenants |
| Non‑compete / Non‑solicit | Not disclosed for Chu; TPG Partner Unit holders and certain agreements include restrictive covenants; applicability to Chu not specified |
| Clawback / Hedging | Company‑wide recoupment and hedging/pledging restrictions apply to officers |
Investment Implications
- Compensation alignment: Absence of individual pay/award disclosure for Chu limits direct pay‑for‑performance assessment; firm‑wide clawback and hedging/pledging restrictions support alignment and risk control for officers .
- Retention risk: Senior partner appointment and strategic legal leadership suggest stability; monitor future proxies and Form 4 filings for RSU grants/vesting that could create selling windows. The Compensation Committee must approve equity awards for officers, which can influence vesting cadence and potential supply .
- Governance/trading signals: Strong firm performance in 2025 underpins equity compensation value accretion (FRR/FRE/After‑tax DE and AUM up YoY) and dividend continuity; continued governance transition to a majority independent board by 2027 may alter committee structures impacting executive compensation oversight .
- Data to watch: 2026 proxy for Chu’s first full‑year compensation disclosure, Section 16 filings for insider transactions, and any mention of change‑of‑control, severance, or accelerated vesting provisions applicable to the Chief Legal Officer role.