Deals
TPG Fires McGlashan, Lets Investors Pull Money From Social Fund
- Unit founder McGlashan charged this week in college scandal
- Rise Fund II still aiming to close this year with $3 billion
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TPG said it fired Bill McGlashan, founder of the firm’s social-impact funds, after he was charged this week in a wide-ranging college-admissions scandal.
The company also is allowing investors in its second social impact fund to withdraw their commitments, according to a person familiar with the matter. The vehicle, known as The Rise Fund II LP, is still aiming to close this year with $3 billion.