March 14, 2019 / 9:55 PM / 9 days ago

TPG says executive McGlashan fired in wake of U.S. college admissions scandal

NEW YORK, March 14 (Reuters) - TPG Capital said on Thursday it had fired senior executive Bill McGlashan, effective immediately, as he faces charges connected to a U.S. college fraud scheme.

In a separate statement via a spokesman, McGlashan said he was resigning from the TPG Rise Fund and TPG Growth. He was the chief executive of both funds.

“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,” he said.

McGlashan, who was placed on indefinite administrative leave on Wednesday, was among those named in an investigation by U.S. authorities into a scheme that helped wealthy Americans cheat their children’s way into elite universities.

Reporting by Joshua Franklin in New York, Editing by Rosalba O'Brien

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