Taek-Geun Kwon, a managing director at private equity firm TPG Capital, plans to leave before the end of this year to prepare the launch of long/short equity shop Toro Investment Partners in San Francisco, according to people familiar with his plans. Kwon will manage the portfolio with assistance from Adam Bhaijee, an investment executive who helped run a technology, media and telecommunications–focused strategy at hedge fund Meru Capital. TPG associate Stuart Landesberg will also join the Toro team. The Toro Global Investments hedge fund will invest in the stocks of TMT companies based in North America and Asia, according to marketing materials obtained by AR. Toro is targeting a launch in the second half of 2011.
