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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.

What happened:

  • It appears both McGlashan and the firm had decided at the same to terminate the relationship, a source tells Axios. However, McGlashan sent his resignation memo first, about an hour before firm co-CEO Jon Winkelried replied with a termination notice the firm was working on, according to emails shared with Axios. TPG Capital's statement about terminating McGlashan was sent to Axios and other reporters first.
  • It's unclear whether the distinction matters more to either party for public positioning reasons or for financial ones (meaning, what economic interests McGlashan will get to keep).

From TPG:

"Bill McGlashan has been terminated for cause from his positions with TPG and Rise effective immediately. After reviewing the allegations of personal misconduct in the criminal complaint, we believe the behavior described to be inexcusable and antithetical to the values of our entire organization. As we stated in the previous announcement of Mr. McGlashan’s administrative leave, Jim Coulter will take over managing partner responsibilities for TPG Growth and Rise."

Others from the business world:

  • Gordon Caplan, co-chairman of law firm Wilkie Farr & Gallagher, is currently on leave.
  • Manuel Henriquez, founder and CEO of Hercules Growth Technology Capital, has resigned.

Editor's note: The story has been updated with additional context about the sequence of events and the lack of clarity as to whether McGlashan was officially fired or has resigned.

Go deeper

Updated 2 hours ago - World

HRW: Over 100 former Afghan security members dead or missing under Taliban rule

Members of the Taliban movement patrol Kabul's airport in September. Photo: Valery Sharifulin/TASS via Getty Images

The Taliban have "killed or forcibly disappeared" over 100 former members of Afghanistan's security forces since the group took power in August, a Human Rights Watch report published Tuesday found.

Why it matters: Former military members and officials from the ousted government, activists and other Taliban critics are facing peril amid executions driven by revenge — despite Taliban promises of an "amnesty" with no retributions, notes the New York Times, which first reported the news.

5 hours ago - World

Barbados becomes a republic, replacing U.K. queen with president

Combination images of Dame Sandra Mason, president of Barbados, and Britain's Prince Charles at her swearing-in ceremony in Bridgetown, Barbados, late Monday.

Barbados officially became a republic at midnight local time after Dame Sandra Mason was sworn in as the Caribbean nation's first president in a ceremony attended by the United Kingdom's Prince Charles.

Why it matters: Mason replaced Britain's Queen Elizabeth as head of state Tuesday — removing the country's final remaining colonial tie to the U.K. almost 400 years after the first British ships arrived in Barbados.

Right-wingers making McCarthy sweat for future Speaker post

House Minority Leader Kevin McCarthy stands with his Republican colleagues outside the House on Nov. 17. Photo: Stefani Reynolds/Bloomberg via Getty Images

Right-wing elements in the Republican Party are complicating House Minority Leader Kevin McCarthy's attempts to become the next speaker of the House should the GOP take back the majority in 2022.

Why it matters: While McCarthy has worked carefully to build trust among the conservatives who tanked his chances at clinching the speakership in 2015, they're still circling ahead of the next Speaker vote in January 2023.