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Reading: David Bonderman, co-founder of TPG and Seattle Kraken co-owner, dies at 82
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The Wall Street Publication > Blog > Lifestyle > David Bonderman, co-founder of TPG and Seattle Kraken co-owner, dies at 82
Lifestyle

David Bonderman, co-founder of TPG and Seattle Kraken co-owner, dies at 82

Editorial Board Published December 11, 2024
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David Bonderman, co-founder of TPG and Seattle Kraken co-owner, dies at 82
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Billionaire David Bonderman, who co-founded the $239 billion various asset administration agency TPG, died on Wednesday on the age of 82.

Bonderman helped rework the corporate from a three-person investing workplace to a publicly traded drive with a market worth of $24.3 billion. As we speak, TPG boasts a world workforce of greater than 1,800, with 28 workplaces all over the world, and investments throughout a spread of sectors, together with the expertise, well being care, actual property and client industries.

“David was a private equity pioneer, legal scholar, conservationist, and citizen of the world and his legacy will long endure with those lucky enough to have met him,” TPG mentioned in an announcement.

Bonderman was a lawyer by coaching who acquired into the funding world by means of his reference to Robert “Bob” Bass, who requested him to maneuver to Fort Price, Texas, to assist handle his household funding enterprise. 

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TPG co-founder David Bonderman handed away Wednesday on the age of 82. (Ian Tuttle/for Breakthrough Prize / Getty Photos)

Previous to working within the funding world, Bonderman labored as an legal professional litigating many instances involving racial discrimination within the southern U.S. as a particular assistant to the U.S. legal professional basic in the course of the administration of President Lyndon Johnson.

On the Bass Household Workplace he met Jim Coulter, who went on to change into his enterprise and investing accomplice for over 38 years. Bonderman and Coulter ultimately left Bass and made a bid to purchase Continental Airways out of chapter in 1992. 

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David Bonderman

David Bonderman speaks in the course of the Milken Institute World Convention in Beverly Hills, California, April 29, 2014. (Kevork Djansezian / Reuters Pictures)

The next 12 months, the 2 had been joined by Invoice Worth in founding non-public fairness agency TPG, and turned a $66 million funding in Continental right into a life-changing deal that yielded 10 instances extra in revenue for the agency. TPG went public in early 2022 at a valuation of greater than $10 billion, and Bonderman was a controlling shareholder and board member courting again to its inception.

Bonderman served on the boards of greater than 80 company corporations all through his profession, together with automaker Basic Motors on the request of the U.S. authorities, air service Ryanair and Kite Pharmaceutical.

He was additionally a member of the boards of the Wilderness Society, World Wildlife Fund, American Himalayan Basis and the Grand Canyon Belief.

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Bonderman was additionally the proprietor of the Nationwide Hockey League’s thirty second growth franchise, the Seattle Kraken.

“It is with great sadness that we announce the passing of David Bonderman, founding owner of the Seattle Kraken,” the group mentioned in an announcement. “A visionary leader, David helped bring the NHL’s 32nd franchise to Seattle. His contributions to business, conservation, music and sports will long be remembered.”

Reuters contributed to this report.

TAGGED:BondermancofoundercoownerDaviddiesKrakenSeattleTPG
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