TPG Capital

Bill McGlashan's firing exposes hypocrisy in impact investing

Illustration: Lazaro Gamio/Axios

In a big week for hypocrisy, the leader of the pack was surely Bill McGlashan, the CEO of the world's largest impact investing fund.

McGlashan, who was once described by the New York Times as resembling "a Buddhist monk," led a multibillion-dollar investing vehicle designed (among other things) to "expand access to educational attainment." Simultaneously, he was allegedly spending $250,000 of his own money to bribe his son's way into a selective university.

TPG Capital's Bill McGlashan out following college cheating scandal

Photo of TPG Capital partner Bill McGlashan speaking at a conference.
TPG Growth Founding Partner Bill McGlashan speaks onstage TechCrunch Disrupt SF 2015. Photo: Steve Jennings/Getty Images for TechCrunch

Bill McGlashan, a high-profile private equity investor who was among the parents charged in the college admissions scheme this week, is no longer at the firm, though there's disagreement as to whether he resigned or was fired.

Why it matters: McGlashan not only established and headed TPG's growth fund, but he also created the firm's Rise Fund, a vehicle focused on "social impact investing," including education.