An internal memo described a firm-wide investigation that revealed two other employees had been in contact with the college admissions consultant, both for legitimate counseling.
after an internal investigation, which was detailed in a memo seen by Business Insider.McGlashan lost his stakes in four private equity funds and the first TPG impact investing fund. A TPG spokesperson said he will keep his unvested stake in the firm itself and that TPG is unable to take back other interests, such as money that's invested alongside the private equity funds.
The fallout is likely to take months or years to unwind, as McGlashan's last spokesperson earlier said he plans to fight the charges.McGlashan, who joined the firm in 2004, is the founder and managing partner of TPG Growth, which makes investments in growth equity and middle-market buyouts. He's also cofounder and CEO of the Rise Fund, an investment fund focused on companies trying to tackle social and environmental issues.
In March 2017, McGlashan had introduced members of the firm's private equity fund and its impact fund to Singer for potential investments. The teams decided against investing and had limited contact with Singer afterwards.
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