Bill McGlashan leaves TPG after college-admissions cheating charges

TPG said it fired William McGlashan a few days after he was charged with participating in a fraudulent college admissions scheme. TPG on March 12 put McGlashan on indefinite leave after the charges were publicly announced. Read the Buyouts story here. Here is a statement from a TPG spokesman:

“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.”

For his part, McGlashan said via a spokesperson that he had resigned from TPG before he was terminated by the firm, according to Reuters.

“I will be focused on addressing the allegations that have been presented, and there are aspects of the story that have yet to emerge that I wish I could share,” McGlashan reportedly told Reuters.

Note: The headline to this story was changed to reflect conflicting reports about McGlashan’s departure from TPG.