Recently deposed Dell Inc. Chief Executive Kevin Rollins has found a new home at private-equity giant TPG Capital, serving as a senior advisor on global investment strategies in the technology sector.
Rollins was replaced as CEO at the PC giant Jan. 31 by company founder and Chairman Michael Dell. Rollins spent 11 years at the company and was seen as Dell's protege.
The move to reassert control over the company Dell transformed from a start-up in his college dormitory room into one of the world's largest PC makers was a sign of the crisis facing Dell. The Round Rock, Texas, company - known for its business model of selling PCs directly to consumers and business clients over the phone and Internet - stalled the past few years as buying behavior in the PC world changed drastically.
In a statement Wednesday, Rollins said, "I believe my experience in global technology strategies and operations will be a strong fit with TPG and contribute to the firm's ongoing leadership in the private investment sector."
Jim Coulter, a founding partner of TPG, said Rollins will identify investment ideas and also be "a key contributor to the ongoing management of TPG's technology investment portfolio. Few executives today can equal his experience and insights in the global technology sector."
In the past several years, TPG has acquired stakes in Freescale Semiconductor Inc. , Lenovo Group Ltd. and SunGard Data Systems Inc.
Fort Worth, Texas-based TPG, which changed its name from Texas Pacific Group earlier this year, was founded in 1992 and has more than $30 billion of assets under management.
In recent months, TPG has agreed to acquire a pair of big tech names. TPG and Silver Lake Partners in June agreed to purchase telecommunications-equipment company Avaya Inc. A month earlier, TPG and the private-equity arm of Goldman Sachs Group Inc. (GS) reached a deal to buy wireless carrier Alltel Corp. for $27.5 billion.
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