TPG Advisors reports 16 pct Washington Mutual stake

WASHINGTON, July 3 (Reuters) - TPG Advisors on Thursday disclosed that it holds 16.2 percent of the common stock of Washington Mutual Inc WM.N, for investment purposes only.

The fund said in a filing with the U.S. Securities and Exchange Commission that the investment "was not motivated by an intent to exercise control, directly or indirectly, over the management, policies or business operations of the Issuer."

Washington Mutual, the largest U.S. savings and loan, announced last month that it eliminated 1,200 jobs following significant mortgage losses. The losses have caused the thrift this year to slash its dividend and raise $7 billion of capital. (Reporting by Karey Wutkowski, editing by Richard Chang)