TPG launches probe after ex-investor busted in admissions scandal

Jon Winkelried, co-CEO of TPG, said the firm was shocked when ex-employee Bill McGlashan was charged in a nationwide college bribery probe.

The private equity firm has undertaken an internal investigation to see if his activities bled into parts of the business, Winkelried said.

“A couple of weeks ago when this news first broke, it was, as you might imagine, pretty shocking,” Winkelried said.

Private equity giant TPG said it fired McGlashan earlier this month after he was charged as part of the wide-ranging admissions scandal. McGlashan led TPG’s business focused on social good and founded its growth investing platform. The firm has given investors a chance to withdraw certain commitments following the indictments.

McGlashan asked the Boston federal court judge overseeing his case for permission to go on an international family vacation during April spring break.

He said he is only charged with making one $50,000 payment to help his son, who is still in high school and has been diagnosed with learning disabilities.

With Post wires