Friday, March 15, 2019

TPG Growth's McGlashan Fired Over College Cheating Scandal

William "Bill" McGlashan, who founded and was managing partner of TPG Growth, TPG Capital's growth fund--and also was head of the firm's Rise Fund--has been fired, after he was named in a Department of Justice complaint over a widespread scheme where wealthy parents paid bribes, had others take standardized tests for their children, and other efforts linked to letting children in as so-called "athletes", even though they did not play a sport. According to TPG, McGlashan was "terminated for cause". The DOJ complaint alleges that McGlashan conspired to bribe the senior associate athletic director at the University of Southern California as a star athlete, in order to bypass the college admissions process.