Tuesday, March 12, 2019

TPG's McGlashan Put On Leave After College Fraud Charge

Bill McGlashan, the Managing Partner of TPG Growth and its "impact" fund, The Rise Fund, has been put on leave after he was charged by the U.S. Justice Department as part of a wide ranging college fraud investigation. TPG Growth and The Rise Fund are part of Fort Worth-based TPG Capital. 49 others, including at least 33 parents, have been charged with bribing coaches, admission counselors, and others in order to guarantee their children spots into a number of schools, including UT Austin, Yale, the University of Southern California (USC), the University of California Los Angeles (UCLA), Wake Forest, and others. That scheme allegedly involved paying off coaching staff for allowing those children in as "athletic recruits"--even though they did not play sports, paying people to take standardized tests such as the ACT and SAT for them, and even using doctored photos to show the children playing sports they did not play.