TPG Capital

TPG Capital (formerly the Texas Pacific Group) is a private equity investment firm based in Fort Worth, Texas, with offices in Hong Kong, London, Luxembourg, and Melbourne, Australia.*TPG Capital: Home page

Horrendous timing of an investment by TPG Capital made it the worst professional investment in history. In Spring 2008, TPG bought $1.35 billion worth of shares of Washington Mutual stock at $8.75 per share, a 33% discount of the going price.Star-Telegram: TPG loses $1.35 billion ... (September 27, 2008) When the Federal Deposit Insurance Corporation (FDIC) seized the operations of WaMu and sold it to JP Morgan Chase on September 25, 2008, those stocks slid to a low of .16.Star-Telegram: TPG loses $1.35 billion in Washington Mutual failure (September 27, 2008)

"Obviously, we are dissatisfied with the loss to our partners and ourselves from our investment in Washington Mutual. The unprecedented turmoil in global financial markets and resulting macro crisis of confidence has radically changed the dynamics for all financial institutions and has led to widespread losses among investors throughout the sector." -- TPG spokesman Owen BlicksilverStar-Telegram: TPG loses $1.35 billion in Washington Mutual failure (September 27, 2008)