December 21, 2017

TPG Capital Advisors, LLC

Financial Fraud

SANCTION AMOUNT: 12849128.79

Defendants: TPG Capital Advisors, LLC

Settled proceedings brought on findings of inadequate disclosures and breach of fiduciary duty by private equity fund adviser TPG. According to the consent Order, TPG failed to disclose to the funds it advised, and to the funds’ limited partners prior to their commitment of capital, that it may accelerate future monitoring fees upon termination of monitoring agreements with portfolio companies, which it actually did as a matter-of-course. Also, TPG's receipt of accelerated monitoring fees from four portfolio companies was a conflict of interest, so it could not effectively consent to this practice on behalf of the funds.

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